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Class 


The  Diminished  Purchasing 
Power  of  Railway  Earnings 

I* 


Suggestions   Concerning  the  Necessity  of  an  Adjustment  of 

Railway  Rates  to  Meet  New  Industrial  Conditions  and 

the  Increased  Cost  of  Improved  and  Additional 

Transportation  Facilities 


By 

c.  c.  McCain 


New  York 

April,  1909 


Digitized  by  the  Internet  Archive 

in  2007  with  funding  from 

Microsoft  Corporation- 


http://www.archive.org/details/diminishedpurchaOOmccarich 


The  Diminished  Purchasing 
Power  of  Railway  Earnings 

m 


Suggestions   Concerning  the  Necessity  of  an  Adjustment   of 

Railway  Rates  to  Meet  New  Industrial  Conditions  and 

the  Increased  Cost  of  Improved  and  Additional 

Transportation  Facilities 


By 

c.  c.  McCain 


New  York 

April,  1909 


r 


^     OF  THE 

UNIVERSITY 


,'M»«r 


M^y^ 


pa 


Contents 


PAGE. 

Introduction    5 

Typical  Unchanged  Rates    6 

Wages  of  Railway  Employees * 6 

Cost  of  Fuel  for  Locomotives 9 

Cost  of  Railway  Supplies  12 

Other  Costs  of  Supplying  Railway  Services 14 

Railway  Taxation    14 

Cost  of  Regulation 15 

Cost  of  Obtaining  New  Capital 17 

From  the  View-Point  of  the  Purchaser  of  the  Services 24 

Agricultural  Products  and  Freight  Rates  29 

Farm  Animals  and  Freight  Rates 30 

Railway  Rates  in  1897  and  at  Present  Measured  in  Money. .  31 

Movement  of  Loaded  Cars   41 

Lower  Classification  of  Freight  42 

Prices  and  Actual  Rates  48 

Significance  of  the  Depreciation  of  Money   60 

Direct  Application  to  Railway  Rates  .  . . 65 

Consequences  of  Loss  in  Purchasing  Power 66 

Railway  Capitalization  and  Earnings 67 

Low  Return  in  Railway  Industry  70 

Slight  Effect  of  a  Readjustment  Upon  Consumers. 71 

Views  of  an  Authority    . . . 73 

Conclusion 75 

Appendix  A,  Typical  Unchanged  Rates  76 

Appendix  B,  Prices  Railway  Supplies,   1897-1907    85 

Appendix  C,  Wages  Various  Classes  Workmen,   1897-1907..  89 

Appendix  D,  Farm  Products  Prices,   1897-1907    96 

Appendix  E,  Farm  Animal  Values,  1897-1908 102 

Appendix  F,  Comparison    Freight    Classification,    1888-1898- 

1908 107 


186992 


-:sity.) 


The  Diminished  Purchasing 
Power  of  Railway  Earnings 


INTRODUCTION. 

THE  ten  years  or  more  which  have  elapsed  since  the 
resumption  of  industrial  activity  that  began 
some  time  in  1897  have  been  characterized  by 
changes  in  rates  of  wages  for  substantially  all  kinds  of 
labor,  and  in  the  prices  of  most  commodities  which 
amount  to  a  profound  and  material  alteration  in  the  value 
of  money.  Wages  of  railway  labor,  prices  of  railway  ma- 
terials and  supplies  and  prices  of  commodities  carried  by 
railways  and  of  those  produced  by  the  purchasers  of  rail- 
way transportation  have  rapidly  increased.  This  is  equiv- 
alent to  a  decrease  in  the  value  of  the  money  in  which 
railway  charges  are  paid  for  the  appreciation  of  commodi- 
ties is  the  depreciation  of  money.  Commodities  cannot 
have  generally  augmented  value  without  money  having 
diminished  value.*  Railway  rates  have  not  been  adjusted 
to  this  diminished  value  of  money.  The  involuntary  and 
unsolicited  reduction  in  railway  rates  has  gone  so  far  as 
seriously  to  threaten  the  stability  of  railway  wages  and 
that  of  the  whole  railway  industry.  Some  adjustment 
through  compensatory  advances  in  money  rates  (f.  e., 
nominal  rates)  is,  therefore,  absolutely  necessary.  The 
*Cf.  F.  W.  Taussig,  Infra,  pp.  63-4. 

5 


extent  of  the  changes  which  have  taken  place,  their  rela- 
tion to  the  problem  of  railway  rates  and  the  adjustments 
which  they  have  made  necessary  are  set  forth  in  the  fol- 
lowing pages. 

TYPICAL  UNCHANGED  RATES. 

A  fifteen-ton  car-load  of  fourth  class  freight  carried  all- 
rail  between  Chicago  and  New  York  at  any  time  during 
the  year  1897  would  have  brought  the  railways  transport- 
ing it  $105.00  in  gross  receipts. 

There  has  been  no  change  in  the  class-rates  between 
Chicago  and  New  York  since  1897  and  the  same  quantity 
of  freight,  classified  in  the  same  way,  produces  the  same 
gross  receipts  now  that  it  did  in  1897.* 

The  rates  between  Chicago  and  New  York,  as  is  very 
well  known,  are  the  basis  of  all  rates  in  the  region  north 
of  the  James,  Potomac  and  Ohio  rivers  and  east  of  the 
Mississippi  river  and  of  a  large  proportion  of  the  rates 
applicable  to  traffic  originating  at  or  destined  to  any  point 
in  that  region.  Without  a  change  in  rates  between  Chi- 
cago and  New  York  there  could  have  been,  during  the 
continuance  of  the  system  of  rate  adjustment  that  has 
been  in  force  since  long  prior  to  the  year  1897,  no  gen- 
eral change  in  the  rates  based  upon  those  in  force  between 
those  cities. 

WAGES  OF  RAILWAY  EMPLOYEES. 

More  than  forty  per  cent  f  of  the  gross  receipts  of  the 
railways  of  the  United  States  are  expended  in  the  pay- 

*A  partial  list  of  the  articles  in  each  class  in  1897  which  are 
still  in  the  same  class,  as  shown  by  Official  Classifications  Nos. 
16  and  32,  will  be  found  in  Appendix  A,  at  pages  76  to  84. 

tThe  proportion  was  equal  to  41.49  per  cent,  in  1897  and  to 
41.42  per  cent  in  1907. 


ment  of  employees,  the  sums  annually  paid  out  for  that 

purpose  since  1897  being  as  follows : 

Amount  paid  to 
Year.  employees. 

1897   $465,601,581 

1898  495,055,618 

1899  522,967,896 

1900  577,264,841 

1901  610,713,701 

1902  676,028,592 

1903  *776,32i,4i5 

1904  817,598,810 

1905  839,944,680 

1006  t927,8oi,653 

1907  1,072,386,427 

Total  $7,781,685,214 

It  is  a  matter  of  common  knowledge  and  of  frequent 
comment  that  a  given  sum  of  money  will  now  buy  very 
much  less  in  labor  or  commodities  than  it  would  in  1897. 
The  change  has  been  gradual  but  substantially  continu- 
ous and  the  aggregate  result  has  been  enormous.  The 
consequences  of  this  change  have  worked  great  hardship 
to  those  whose  incomes  have  not  been  adjusted  to  the 
changed  purchasing  power  of  money  but  fortunately  the 
rates  of  wages  of  nearly  all  workmen  and  the  prices  of 
practically  all  products  of  labor  expended  upon  farms  or 
in  factories  or  otherwise  have  been  raised  sufficiently  to 
more  or  less  completely  offset  it.  The  principal  sufferers 
are  those  salaried  employees  whose  salaries  have  not  been 
readjusted  and  those  whose  incomes  are  received  under 
contracts  covering  long  periods  of  time  or  are  derived 
from  the  marketing  of  commodities  or  services  at  prices 

♦Amount  paid  by  Chicago,  Milwaukee  and  St.  Paul  Railway, 
which  was  not  reported,  estimated  at  $19,000,000.  This  company 
paid  $19,976,412  to  its  employees  in  1904. 

fAmount  paid  by  Southern  Pacific  Company,  which  was  not 
reported,  estimated  at  $27,000,000.  This  company  paid  $27,530,- 
117  to  its  employees  in  1905. 


more  or  less  effectively  controlled  by  custom  or  statute. 
Many  of  the  owners  of  railway  bonds  are  in  the  second 
class  and  all  interstate  railways  are,  as  to  the  disposal  of 
their  services,  in  the  third  class. 

As  already  noted,  the  gross  revenue  derivable  by  the 
railways  from  the  transportation  of  a  carload  consisting 
of  fifteen  tons  of  fourth  class  freight  between  Chicago  and 
New  York  is  the  same  now  that  it  was  in  1897 — i.  c, 
$105.00.  But  $105.00  is  worth  much  less  to  any  railway 
now  than  it  was  in  1897  for  money  is  worth  at  any  time 
what  it  will  buy  at  that  time.  The  reports  of  the  Inter- 
state Commerce  Commission  show  the  following  increases 
in  rates  of  average  daily  wages  paid  to  railway  employees : 

Wages  per  day. 
Class  of  Employees.  increase. 

imt- 1907.  per  cent 

Station    agents     $1.73  $2.05  18.50 

Other    stationmen     1.62  1.78  9.88 

Enginemen     3.65  4.30  17.81 

Firemen     2.05  2.54  23.90 

Conductors     3.07  3.69  20.20 

Other    trainmen    1.90  2.54  33.68 

Machinists     2.23  2.87  28.70 

Carpenters     2.01  2.40  19.40 

Other    shopmen     1.71  2.06  20.47 

Section    foreman    1 .70  1.90  1 1 .76 

Other  trackmen   1.16  1.46  25.86 

Switchmen,    flagmen    and    watchmen    1 .72  1 .87  8.72 

Telegraph   operators    and   despatchers    1.90  2.26  18.95 

Employees,  account  floating  equipment   1.86  2.27  22.04 

All   other   employees    and  laborers    1.64  1.92  17.07 

The  foregoing  affords  a  means  of  ascertaining  the  real 
value  of  $105.00  of  railway  gross  receipts  in  1897  and 
1907  and  the  decrease  from  the  earlier  to  the  later  year. 
The  following  table  shows  the  number  of  days  labor  of 
each  of  the  different  classes  of  railway  labor  which 
$105.00  would  buy  in  each  of  the  years  indicated : 


Number  of  days  labor 
purchasable  for  $165.00 
Class   of    Employees.  


1897.  1907. 


Decrease, 
per  cent. 


51.2 

15.65 

69.0 

8.95 

24.4 

15.28 

41.3 

19.34 

28.5 

16.67 

41.3 

25.32 

36.6 

22.29 

43.8 

16.09 

51.0 

16.94 

55.3 

10.52 

71.9 

20.55 

56.1 

8.03 

46.5 

15.91 

46.3 

18.05 

54.7 

14.53 

Station    agents     60.7 

Other   station   men    64.8 

Enginemen     28.8 

Firemen    51.2 

Conductors     34.2 

Other   trainmen    55.3 

Machinists     47.1 

Carpenters     52.2 

Other  shopmen   61.4 

Section    foremen    61.8 

Other   trackmen    90.5 

Switchmen,    flagmen   and   watchmen    61.0 

Telegraph  operators  and  despatchers    55.3 

Employees,   account  floating  equipment   56.5 

All  other  employees   and   laborers    64.0 

Average     ....  16.27 


The  foregoing  shows  that  on  the  average  the  gross 
railway  receipts  derived  from  the  service  assumed  as  the 
basis  of  the  calculation  would  purchase  16.27  per  cent  less 
of  the  necessary  services  of  railway  employees,  in  1907 
than  in  1897  and  what  is  true  of  the  receipts  from  this 
service  is  true  of  every  dollar  received  by  a  railway — 
that  is,  no  railway  dollar  will  pay  for  more  than  eighty- 
four  per  cent,  on  the  average,  as  much  railway  labor  as  it 
would  in  1897. 

The  change  in  railway  rates  necessary  fully  to  offset 
this  decrease  in  the  value  of  the  money  in  which  rates  are 
paid  would  amount  to  an  apparent  advance  of  1943  per 
cent  of  the  money  rates  now  in  force. 

COST  OF  FUEL  FOR  LOCOMOTIVES. 

Next  to  labor  the  principal  single  item  of  expense 
incurred  in  the  operation  of  the  railways  of  the  United 
States  is  for  the  fuel  used  in  their  locomotives.  The  ex- 
penditures for  this  purpose  now  constitute  about  eleven 


per  cent  of  the  cost  of  operation  and  since  1897  have 
been  as  follows: 

Cost  of  fuel 
Year.  for  locomotives. 

1897    $65,044,670 

1898    72,469,777 

1899   77,187,344 

1900   90,593,05 

1901  104,926,568 

1902  120,074,192 

1903  146,509,031 

1904  158,948,886 

1905  156,429,245 

1906 170,499,133 

1907  200,261,975 

Total  $1,362,944,786 

Thus,  from  1897  to  1907,  the  cost  of  fuel  for  locomo- 
tives, in  spite  of  the  economies  in  its  use  partially  sug- 
gested by  the  contemporaneous  increase  in  the  train-load 
of  freight  from  204.62  to  357.35  tons,  or  74.64  per  cent, 
increased  207.88  per  cent,  while  passenger  traffic  in- 
creased but  126.15  per  cent  and  freight  traffic  but  148.69 
per  cent.  Thus  while  there  was  one  dollar  spent  for  lo- 
comotive fuel  in  1897  for  each  $17.25  of  gross  railway 
receipts  the  ratio  had  declined  by  1907  to  one  dollar  for 
locomotive  fuel  for  each  $12.93  °f  gross  receipts — a  dif- 
ference which  must  plainly  be  productive  of  profound 
changes  in  the  proportion  of  gross  receipts  remaining 
after  the  payment  of  necessary  operating  expenses.  The 
average  prices  of  coal,  per  ton  of  2,000  pounds,  at  the 
mines,  in  the  several  states,  in  the  years  1897  and  1907, 
as  given  by  the  United  States  Geological  Survey,  were  as 
follows : 


Price  per  ton. 


State. 


1897. 


1907. 


Increase, 
per  cent. 


Alabama     $0.88 

Arkansas    1.06 

California    #2.55 

Colorado    1.17 

Georgia    f'03 

Idaho   $3.33 

Illinois   72 

Indiana    84 

Iowa    1.13 

Kansas     1.18 

Kentucky 79 

Maryland     76 

Michigan    1.46 

Missouri     1.08 

Montana    1.76 

New  Mexico  1.38 

North   Dakota    1.08 

Ohio    78 

Oklahoma  1.34 

Oregon    3.09 

Pennsylvania — 

Bituminous     69 

Anthracite     1.5 1 

Tennessee    81 

Texas    1.52 

Utah     1.19 

Virginia     67 

Washington     1.94 

West  Virginia    63 

Wyoming     1.21 

♦Includes  Alaska. 
■{•Includes  North  Carolina. 
{Includes  Nebraska. 


$1.29 

46.59 

1.68 

56.49 

•3.81 

49.41 

1.40 

19.66 

fl.38 

33.98 

$4.10 

23.12 

1.07 

48.61 

1.08 

28.57 

1.62 

43.36 

1.52 

28.81 

1.06 

34.18 

1.20 

57.89 

1.80 

23.29 

1.64 

51.85 

1.94 

10.23 

1.46 

5.80 

1.61 

49.07 

1. 10 

41.03 

2.04 

52.24 

2.34 

Decrease 

1.04 

50.72 

1.91 

26.49 

1.25 

54.32 

1.69 

11.18 

1.52 

27.73 

1.02 

52.24 

2.09 

7.73 

.99 

57.14 

1.56 

28.93 

It  will  be  noted  that  the  cost  of  coal  increased  in  every 
state  of  considerable  production.  In  California  much  of 
the  locomotive  fuel  used  consists  of  petroleum,  and  the 
same  fuel  is  used  to  some  extent  in  Oregon  and  New 
Mexico. 

The  number  of  tons  of  coal  purchasable  at  the  mines 
in  the  several  states  with  $105.00,  the  gross  revenue  from 
the  typical  shipment  which  has  been  used  for  illustrative 
purposes,  in  1897  and  in  1907,  would  have  been  as  fol- 
lows: 


n 


State. 


Tons  of  coal  purchas- 
able for  $105.09 


1897. 


Decrease, 
per  cent. 


Alabama     119 

Arkansas    99 

California     41 

Colorado     90 

Georgia     102 

Idaho     32 

Illinois    146 

Indiana     125 

Iowa    93 

Kansas      89 

Kentucky     133 

Maryland    138 

Michigan    72 

Missouri     97 

Montana     60 

New  Mexico    76 

North   Dakota    97 

Ohio     135 

Oklahoma     78 

Oregon     34 

Pennsylvana — 

Bituminous    1 52 

Anthracite    70 

Tennessee     130 

Texas     69 

Utah    88 

Virginia    157 

Washington     54 

West   Virginia    167 

Wyoming    87 


81 

31.93 

62 

37.37 

28 

31.71 

75 

16.67 

76 

25.49 

26 

18.75 

98 

32.88 

97 

22.40 

65 

30.11 

69 

22.47 

99 

25.56 

88 

36.23 

58 

19.44 

64 

34.02 

54 

10.00 

72 

5.26 

65 

32.99 

95 

29.63 

51 

34.62 

45 

Increase 

101 

33.55 

55 

21.43 

84 

35.38 

62 

10.14 

69 

21.59 

103 

34.39 

50 

7.41 

106 

36.53 

67 

22.99 

In  this  connection  it  should  be  noted  that  the  United 
States  Department  of  Labor  reports  an  increase,  between 
1897  and  1907,  in  the  price  of  anthracite  of  29.23  per 
cent,  and  in  bituminous  coal  from  the  Georges  Creek 
region  of  85.54  per  cent. 

COST  OF  RAILWAY  SUPPLIES. 

Bulletin  No.  75,  of  the  United  States  Bureau  of  Labor, 
shows  average  prices  for  the  following  articles  used  by 
railways,  or,  as  raw  materials,  for  the  manufacture  of 
railway  supplies : 


12 


Price. 


Articles.  

Unit  1897. 

Axes.   M.   C.   0.   Yankee   Each  .38 

Coke.    Connellsvllle,   furnace   Ton  1.62 

Bar  iron,  best  refined,  from  mill  Pound  .Oil 

Barbed    wire,    galvanized    Cwt.  1.80 

Copper   wire,    bare    Pound  .1375 

Doorknobs,    steel,    bronze,   plated    ..Pair  .168 

Files.     8-lnch     Dozen  .81 

Hammers,   Magdole.   No.   1%    Each  .38 

Lead     pipe     Cwt  4.32 

Locks,   common,   mortise    Each  .0833 

Nails,   cut.   8 -penny,   fence  and  common   Cwt.  1.33 

Nails,  wire,  8-penny,  fence  and  common  Cwt.  1.48 

Pig    Iron.    Bessemer    Ton  10.13 

Pig  Iron,   foundry  No.   1    Ton  12.10 

Pig   iron,    foundry  No.    2    Ton  10.10 

Pig  iron,  gray,  forge,  southern,  coke  Ton  8.80 

Steel   billets    Ton  15.08 

Steel    rails    Ton  18.75 

Steel  sheets,    black.   No.    27    Pound  0.019 

Tin,    pig    Pound  .1358 

Tin,   plates,   domestic,   Bessemer,   coke   Cwt.  3.18 

Zinc,    sheet    Cwt.  4.94 

Brick,    common    domestic    M  4.94 

Cement,     Rosendale     Bbl.  .75 

Doors,     pine     Each  .81 

Lumber,    hemlock    M  feet  11.00 

Lime,     common     Bbl.  .72 

Linseed   oil,    raw    GaL  .33 

Lumber,    maple,    hard    M    feet  26.50 

Lumber,  oak,  white,  plain  M  feet  36.25 

Lumber,   oak,  white,   quartered    M  feet  53.83 

Lumber,   pine,   yellow    M  feet  1 6.44 

Lumber,   poplar    M  feet  30.67 

Shingles,     cypress M  2.35 

Lumber,   spruce    M  feet  14.00 

Window  glass,    American,    single,   firsts, 

6   by   8   to    10  by  15  inch   50  sq.   ft.  2.20 

Window  glass,   American,   single,   thirds, 

6   by  8   to  10  by  15  inch   50  sq.  ft.  1.96 


1907. 


Increase, 
per  cent. 


.68 

74.38 

2.83 

74.69 

.0175 

59.09 

2.63 

46.11 

.2402 

74.69 

.450 

171.06 

1.00 

23.46 

.47 

23.68 

6.71 

55.32 

.20 

140.10 

2.16 

62.41 

2.12 

42.28 

22.84 

125.47 

23.90 

97.52 

23.87 

136.34 

20.99 

138.52 

29.25 

93.97 

28.00 

49.33 

0.025 

31.58 

.8875 

185.35 

4.09 

28.62 

7.49 

51.62 

6.16 

24.70 

.95 

26.67 

1.88 

132.10 

22.25 

102.27 

.95 

31.94 

.43 

30.30 

32.25 

21.70 

55.21 

52.30 

80.00 

48.62 

30.50 

85.52 

58.08 

89.37 

4.23 

80.00 

24.00 

71.43 

2.81 

27.73 

2.24 

14.29 

The  bulletin  indicates  that  putty,  Portland  cement  and 
Ames  shovels  are  about  the  only  exceptions  to  the  general 
rule  of  greatly  increased  prices  of  railway  supplies.  It  is 
plain  that  as  to  all  of  the  important  supplies  and  materials 
included  in  the  foregoing  list  the  $105.00  of  gross  receipts 
from  the  typical  shipment  heretofore  used  as  an  example 
would  show  the  same,  or  a  greater,  loss  in  purchasing 
power  which  has  characterized  the  comparisons  previ- 
ously shown. 

Evidence  from  official  sources  thus  shows  that  in  pur- 
chasing the  same  quantities  either  of  labor  or  of  supplies 
the  railways  have  now  to  expend  much  larger  sums  than 

13 


they  did  ten  years  ago.  The  official  statistics  already 
quoted  are  fully  supported  and  their  pertinence  to  the 
problem  in  hand  is  fully  proven  by  the  accounting  records 
of  the  purchasing  departments  of  the  several  railways. 
The  Trunk  Line  Association  has  obtained  detailed  infor- 
mation concerning  purchases  in  1897  and  1907,  by  im- 
portant railways  represented  in  its  organization,  and 
this  information  has  been  carefully  and  accurately  tabu- 
lated. A  table  showing  the  largely  increased  cost  of  ar- 
ticles which  this  tabulation  reveals  has  been  made  Ap- 
pendix B  and  will  be  found  at  pages  85  to  88  of  this 
pamphlet.  An  examination  of  this  appendix  and,  par- 
ticularly of  the  classes  of  labor  and  of  the  articles  shown 
to  have  greatly  increased  in  cost,  discloses  the  unquestion- 
able fact  that  the  increased  cost  pervades  the  whole  ag- 
gregate of  operating  expenses  and  that  there  is  no  con- 
siderable exception  to  the  rule  that  every  item  of  operat- 
ing expenditure  is  now  very  much  greater  than  it  was  in 
1897. 

OTHER    COSTS   OF   SUPPLYING    RAILWAY    SERVICES. 

The  cost  of  railway  transportation  which  must  be  borne 
out  of  the  receipts  for  railway  services  includes  operating 
expenses,  interest  on  capital  and  taxes.  Before  discussing 
the  increase  in  the  rate  of  interest  demanded  it  is  worth 
while  to  note  that  the  exactions  made  by  the  taxing  power 
upon  the  railways  have  also  notably  increased. 

RAILWAY  TAXATION. 

The  sums  annually  paid  as  taxes  on  railway  property 
since  1897  follow: 

14 


Miles  operated 
and  Included 

In  reporta 
of  taxes  paid. 

Taxes  paid. 

Tear. 

Amount. 

Average 
per  mile 
operated. 

1897     

183,284.25 

$43,137,844 
43,828,224 
46,337,632 
48,332,273 
50,944,372 
54,465,437 
57,849.569 
61,696,354 
63,474.679 
74,785,615 
80,312,375 

$235.36 

1898     

184,648.26 

237.36 

1899    

187,534.68 

247.09 

1900 

192,556.03 

251.00 

1901      

195,561.92 

260.50 

1902     

200,154.56 

272.12 

1903     

205,313.54 

281.76 

1904      

212,243.20 

290.69 

1905      , 

216,973.61 

292.55 

1906      

222,340.30 

336.36 

1907      

227,454.83 

353.09 

Total     

•    • 

$625,164,374 

•    • 

Thus  in  the  years  from  1897  to  1907  railway  taxation 
per  mile  of  line  has  increased  from  $235.36  to  $353.09,  or 
no  less  than  50.02  per  cent. 

COST  OF  REGULATION. 

Closely  akin  to  taxation  of  railway  property  are  the 
additional  expenses  which  have  to  be  met  out  of  railway 
revenues  on  account  of  public  regulation.  The  increased 
and,  in  many  cases,  minute  regulation  imposed  by  the 
Hepburn  law  of  1906  and  the  rules  and  requirements  es- 
tablished thereunder  by  the  Interstate  Commerce  Com- 
mission and  by  various  State  enactments  have  caused  the 
railways  many  new  and  augmented  expenditures.  Among 
the  many  purposes  for  which  these  expenditures  have 
become  necessary  are  those  enumerated  below : 

1.  Preparation,  publication,  filing,  posting,  etc.,  of  rate 
schedules. 

2.  Compilation  and  tabulation  of  statistics,  preparation 
and  filing  of  annual  reports  of  operation  and  finance. 

3.  Litigation  under  regulatory  statutes  including  cases 
before  National  and  State  commissions  and  including 
legal  and  incidental  expenses  thereof. 

15 


4.  Appliances  and  special  equipment  required  by  safety- 
appliance  laws. 

5.  Additional  employees  and  additional  wages  paid  on 
account  of  laws  regulating  the  hours  of  labor. 

Besides  these  and  other  positive  additions  to  the  ex- 
penses of  operation  there  have  been  considerable  reduc- 
tions in  revenue  brought  about  by  the  various  regulative 
statutes.  Thus  there  have  been  reductions  in  revenue 
caused  by  the  following: 

1.  Orders,  or  suggestions  having  practically  the  force 
of  orders,  requiring  changes  in  the  classification  of  freight. 

2.  Orders,  or  suggestions  having  practically  the  force 
of  orders,  requiring  reductions  in  rates. 

3.  Statutory  reduction  in  the  rates  of  compensation  for 
carrying  the  mail. 

4.  Reduction  of  compensation  for  carrying  the  mail 
made  by  executive  order. 

A  painstaking  effort  to  secure  accurate  statistics  con- 
cerning recent  increases  in  these  expenditures  and  losses 
has  been  made  and  data  for  that  purpose  have  been  sup- 
plied by  many  of  the  railways  operating  east  of  the  Mis- 
sissippi river.  These  data  are  necessarily  incomplete  and 
fragmentary,  the  accounts  of  many  of  the  companies  not 
being  kept  in  such  form  as  fully  to  disclose  the  items  de- 
sired. In  few  cases  were  the  data  which  could  be  obtained 
for  any  line  complete — some  companies  were  able  to  re- 
port particular  items  while  other  companies  could  not  give 
these,  but  could  supply  others.     Generally  speaking,  it 

16 


should  be  realized  that  the  tabulation  of  these  reports 
makes  a  showing  which  is  incomplete  mainly  in  the  form 
of  omissions.  A  conservative  computation  discloses  that 
the  costs  due  to  increases  in  expenses  or  reductions  in  rev- 
enue imposed  by  statutes  or  by  Commissions  acting  under 
Federal  and  State  regulatory  laws  costs  the  railways  of 
the  United  States  approximately  $200,000,000  pmmmmmm  in  two  jmn 
That  this  is  not  an  exaggerated  estimate  will  be  appre- 
ciated by  reference  to  the  principal  general  items  of  ex- 
penditures as  enumerated  on  the  preceding  pages.  Until 
these  items  shall  have  been  assigned  a  proper  classifica- 
tion in  the  accounts  of  the  railroads  the  accurate  results 
may  not  be  ascertained,  but  it  will  at  once  occur  to  those 
in  any  measure  informed,  that  there  has  been  an  enor- 
mous increase  of  work  and  expense  placed  upon  the  car- 
riers to  conform  to  the  innumerable  requirements  of  State 
and  Federal  laws  and  the  rulings  of  the  Commissions 
thereunder,  and  that  this  burden  has  extended  to  all  de- 
partments of  the  carriers.  Litigation  and  miscellaneous 
expenses  appear  as  a  large  part  of  these  new  costs,  and  in 
addition,  the  carriers*  revenues  have  been  greatly  de- 
pleted either  directly  by  the  laws,  orders  of  Commissions 
or  suggestions  having  practically  the  force  of  orders,  re- 
sulting in  reductions  of  freight  and  passenger  charges. 

COST  OF  OBTAINING   NEW   CAPITAL. 

In  the  matter  of  interest  on  the  capital  employed  the 
railways  have  apparently  enjoyed  an  advantage  which 
would  seem  to  offset  the  natural  tendency  of  interest 
rates  to  rise  in  response  to  the  stimulus  of  augmented 
cost,  in  dollars  and  cents,  of  the  commodities  entering 

17 


into  the  budget  of  expenditures  of  the  average  recipient  of 
interest — that  is  to  say,  the  advantage  growing  out  of  the 
fact  that  a  large  proportion  of  railway  capital  is  secured 
under  long-time  contracts  and  that  many  of  the  contracts 
now  in  force  unquestionably  run  back  to  a  time  before 
the  extensive  depreciation  of  the  American  dollar  began. 
This  advantage  is  a  real  one  but  its  extent  is  easily  exag- 
gerated. For  the  purpose  of  throwing  light  upon  the 
effect  upon  the  cost  of  railway  transportation  of  the  rise 
in  interest  rates  which  has  characterized  recent  years  an 
analytical  study  of  railway  indebtedness  (including  guar- 
anteed dividends)  amounting,  in  the  aggregate,  to  $9,- 
499,099,065  *  has  been  made.  This  sum  represents  in- 
debtedness now  outstanding  and  includes  some  duplica- 
tion owing  to  the  fact  that  certain  of  the  securities  repre- 
sented in  the  aggregate  are  themselves  based  upon  other 
securities  deposited  as  collateral  or  held  in  the  treasuries 
of  the  corporations  making  the  secondary  issues;  dupli- 
cation which  could  not  be  eliminated  without  adding 
vastly  to  the  difficulty  of  the  inquiry  with  no  correspond- 
ing gain  in  the  accuracy  of  the  result.  These  data  are 
also  subject  to  the  qualification  necessarily  due  to  the 
fact  that  all  of  the  issues  included  were  not  sold  at  par. 
In  some  cases  a  small  premium  was  doubtless  obtained 
and  in  other  cases  a  slight  discount  was  required  but, 
nevertheless,  it  is  believed  that  the  data  fairly  indicate  the 
general  change  in  interest  rates  on  capital  loaned  to  rail- 


*The  Interstate  Commerce  Commission  gives  $9,342,961,476  as 
the  aggregate  par  value  of  the  funded  debt  obligations  of  the 
railways  of  the  United  States.  See  Special  Report  No.  1,  Bureau 
of  Statistics  of  the  Interstate  Commerce  Commission. 

18 


ways.  Of  the  total  outstanding  indebtedness  of  $9,499,- 
099,065  the  portion  incurred  during  the  years  1897  to 
1908,  inclusive,  amounts  to  $5,466,340,252,  or  57.55  per 
cent.  The  following  table  shows  the  amounts  incurred  at 
the  different  rates  during  each  of  the  years  named : 


19 


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20 


Even  a  cursory  examination  of  the  foregoing  statement 
shows  that  the  average  rate  of  interest  demanded  by  those 
who  supply  railway  capital  has  greatly  increased.  In 
1897  and  1898  the  largest  aggregate  of  new  indebtedness 
was  incurred  at  the  rate  of  three  and  one-half  per  cent 
per  annum;  in  1899,  1900,  1902,  1903,  1904,  1905  and 

1906  the  preponderating  portion  was  at  four  per  cent;  in 

1907  the  largest  aggregate  was  at  five  per  cent,  while  in 
the  months  of  1908  for  which  data  are  available  the 
greater  portion  was  obtained  at  six  per  cent.  Loans  at 
three  and  three  and  one-half  per  cent,  which  supplied  a 
considerable  aggregate  during  all  of  the  years  to  and  in- 
cluding 1906  and  particularly  in  the  earlier  years  of  the 
period,  had  substantially  disappeared  before  1907  and  no 
funds  were  procured  at  less  than  four  per  cent  during  the 
portion  of  1908  which  is  included.  The  increased  volume 
of  loans  at  five  and  six  per  cent  is  equally  marked.  The 
following  table  makes  this  analysis  clearer  by  showing  the 
total  borrowings  of  each  year  and  the  percentage  at  each 
rate: 

Rate   of    Interest    and    Proportion    of   Total    Indebtedness    In- 

curred    During   Year  and   Outstanding. 

Year.  Borrowed.      ' ~~ • 

6%  per     6  per     5  per     4%  per    4  per    3%  per  3%  per    3  pet 
cent.      cent.       cent.       cent.      cent.      cent.      cent.       cent. 

1897 $493,408,775         ...         2.24  8.54  1.56  41.73       44.92  |.0I 

1898     390,803,025  12  1.92  .05  48.08        49.83        

1899    505,936,672  ....         2.59  5.77  3.14  54.91  ....  25.05  8.54 

1900     215,039,851  53  7.40  3.71  38.94  ....  29.10  20.32 

1901    512,559,403  35  7.58  7.38  74.55  .07  10.07 

1902    471,578,658  9.53  4.23  73.80       12.44        

1903 427,358,965  36  12.54  5.17  74.40  ....  5.22  2.31 

1904     325,078,790  08  18.82  9.30  59.53  ....       12.27 

1905    635,304,659  28  10.44  11.65  57.38       17.73        2.52 

1906     514,638,170  0.07          .23  27.55  7.95  48.78  9.38        6.04 

1907     708.351,929  4.28  40.86  25.10  29.70       06        

1908*     ....  266.281.355  ....       43.00  17.86  1.07  38.07        

Total    ..$5,466,340,252        0.01        3.25       15.34        8.00      53.49        0.89       16.87        2.15 
•January  to  July,  only. 

The  foregoing  table  shows  that  while,  in  1897,  the  rail- 

21 


ways  borrowed  87.66  per  cent  and  in  1898,  97.91  per  cent 
of  the  new  capital  obtained  in  the  form  of  loans  at  four 
per  cent  or  better  they  were  compelled,  in  1907,  to  promise 
more  than  four  per  cent  on  70.24  per  cent  and  in  the  first 
six  months  of  1908,  to  promise  six  per  cent  on  43.00  of 
their  borrowings.  The  significance  of  these  figures  is 
made  still  more  apparent  by  the  following  table  which 
shows  opposite  the  aggregate  borrowings  of  each  year, 
the  interest  charges  thereon  and  the  average  rate  upon  the 
portion  of  the  capital  which  it  represents : 


Year.  Borrowed. 


Aggregate  Average  rate 

interest  charges.         of  interest. 


1897     $493,408,775  $19,258,593  3.90 

1898     390,803,025  14,744,141  3.77 

1899     505,936,872  19,804,814  3.91 

1900     215,039,851  8,073,638  3.75 

1901     512,559,403  20,856,559  4.07 

1902     471,578,658  19,119,182  4.05 

1903     427,358,965  17,561,577  4.11 

1904     325,078,790  13,571,945  4.17 

1905     635,304.659  25,758,601  4.05 

1906     514,638,170  21,964,215  4.27 

1907     708.351,929  32.722,081  4.62 

1908*     266,281,355  13.431,067  5.04 

Total     $5,466,340,252  $226,866,413  4.15 

•January  to  July,   only. 

The  foregoing  shows  an  increase,  in  the  average  inter- 
est rate  demanded  upon  new  loans  to  railway  corporations, 
from  3.90  per  cent  in  1897  to  4.62  in  1907  and  5.04  in 
1908.  The  increase  in  the  rate  from  1897  to  1907  was 
equal  to  18.46  per  cent  and  from  1897  to  1908  it  was  29.23 
per  cent.  In  other  words  one  dollar  would  pay  interest 
on  as  much  of  the  new  capital  secured  by  loans  in  1897  as 
$1.29  would  of  the  loans  of  1908.  The  gross  revenue  of 
$105.00  obtained  in  both  years  from  the  typical  shipment 
of  fourth  class  freight  between  Chicago  and  New  York, 
at  the  unchanged  rate  applicable  to  such  a  shipment  in 
both  years,  would  pay  interest  on  $2,692.31  secured  in  the 

22 


earlier  year  and  on  only  $2,083.33  secured  in  the  later 
year.  The  loss  in  power  to  purchase  loaned  capital  there- 
fore amounts  to  22.62  per  cent.  In  order  fully  to  appre- 
ciate the  importance  of  this  rise  in  the  cost  of  capital  it  is 
necessary  to  realize  that  very  great  sums  of  new  capital 
are  annually  required  for  the  necessary  augmentation  and 
improvement  of  railway  facilities.  This  is  made  evident 
by  the  total  yearly  borrowings  as  shown  in  the  foregoing 
tables,  but  it  should  be  borne  in  mind  that  further  sums, 
certainly  not  less  extensive  in  the  aggregate,  have  been 
raised  through  issues  of  stock,  which  promise  no  certain 
rate  of  interest,  although  these  sums  could  not  have  been 
obtained  unless  the  subscribers  had  considered  it  prob- 
able that  they  would,  in  the  long  run,  receive  returns  in 
dividends  at  least  equal  to  the  "going  rate"  of  interest. 
It  is  interesting  to  note  that  the  aggregate  of  new  capital 
secured  by  loans  in  each  year  has  very  largely  exceeded 
the  total  interest  payments  to  all  capital  obtained  by  bor- 
rowing. This  is  shown  by  the  following  table,  the  data 
in  which,  except  those  as  to  the  sums  obtained  by  loans, 
are  from  the  reports  of  the  Interstate  Commerce  Commis- 
sion: 


Per  cent 

New  capital  Interest  on  of  interest 

Year.*                                              borrowed.  funded  debt.  payments  to 

new  borrowings. 

1898     $390,803,025  $237,578,706  60.79 

1899     505,936,672  241,657,535  47.76 

1900     215,039,851  242,998,285  113.00 

1901     512,559,403  252,594,808  49.28 

1902     471,578,658  260,295.847  55.20 

1903     427,358,965  268,830,564  62.90 

1904     325,078,790  282,118,438  86.78 

1905     635,304,659  294,893,884  46.40 

1906     514,638,170  385,337,754  59.33 

1907     768,351,929  323,733,751  45.70 

Total     $4,706,650, 122  $2,709,949,572  67.58 

•Accurate  data  for  payments  to  capital  in  1897  are  not  available. 

23 


FROM     THE     VIEW-POINT     OF     THE     PURCHASER     OF     THE 
SERVICES. 

So  far  the  extent  and  significance  of  the  changes  in  the 
value,  or  purchasing  power  of  money,  have  been  consid- 
ered from  the  point  of  view  of  those  who  produce  and 
sell  railway  transportation.  But  equally  striking  changes 
will  appear  and  similar  conclusions  are  inevitable  when 
recent  history  is  reviewed  in  the  aspect  which  it  presents 
to  those  whose  earnings  are  devoted,  in  part,  to  the  pur- 
chase of  the  services  which  the  railways  supply.  For  the 
important  consideration  to  the  wage-earner  who  wishes 
to  travel  by  rail  or  who  buys  commodities  that  have  been 
so  carried,  or  to  the  producer  whose  products  must  go  to 
market  over  railway  routes,  is  not,  how  much  money  must 
be  paid  for  the  railway  services,  but,  rather,  how  much 
labor  must  be  expended,  or  what  quantity  of  his  goods 
must  be  produced,  in  order  to  obtain  that  sum  of  money. 
If  the  earnings  of  a  particular  wage-earner  have  increased 
from  fifty  to  seventy-two  cents  per  hour,  a  railway  service 
is  cheaper,  to  him,  if  it  costs  twelve  cents  than  it  was 
at  ten  cents  when  his  earnings  were  on  the  fifty-cent  basis, 
for  he  now  procures  with  the  fruit  of  ten  minutes'  toil 
what  formerly  cost  the  result  of  twelve  minutes'  labor. 
In  Bulletin  No.  jy,  just  issued  by  the  United  States 
Bureau  of  Labor,  the  official  statistician  presents  data 
showing  the  relative  wages  per  hour  of  many  different 
classes  of  wage-earners,  not  including  railway  employees, 
in  1897  and  1907.  While  these  data  show  that  wages 
have  almost  uniformly  advanced  (there  are  ten  somewhat 
questionable  exceptions  among  the  342  classes)  the  data 
supplied  by  the  Interstate  Commerce  Commission  show 

24 


that  during  the  same  period  average  railway  freight 
rates  have  declined  from  7.98  mills  to  7.59  mills 
per  ton  per  mile,  or  4.89  per  cent.  A  table  presenting  and 
based  upon  these  official  statistics  and  showing  the  rela- 
tive wages  per  hour  of  the  various  classes  of  labor,  in 
1897  and  1907,  the  percentage  increase  in  wages-rates 
per  hour  and  the  increased  command  over  railway  freight 
services  which  these  wage-earners  have  obtained  through 
the  combined  effect  of  higher  wages  and  lower  ton-mile 
rates  has  been  made  Appendix  C,  and  will  be  found  at 
pages  89  to  95.  In  studying  the  data  presented  in  this 
appendix  it  should  be  borne  in  mind  that  the  wages  are 
relative  and  not  absolute.  They  mean,  for  example,  that 
the  average  male  blacksmith  in  the  agricultural  implement 
industry  was  paid,  in  1907,  $1.25  for  the  same 
quality  and  period  of  labor  for  which  he  was  paid 
a  little  less  than  ninety-six  cents,  in  1897.  This  increase 
amounted  to  30.58  per  cent  of  the  wages-rate  of  1897,  and, 
combined  with  a  decreased  cost  of  railway  freight  service 
of  4.89  per  cent,  which  made  95.11  cents  go  as  far  in  pur- 
chasing the  latter  in  1907  as  one  dollar  would  go  in  1897, 
gave  him  37.29  per  cent  greater  command  over  railway 
freight  services. 

In  an  earlier  bulletin,  No.  75,  published  during  the  cur- 
rent year,  the  Bureau  of  Labor  continued  its  "index  num- 
bers" which  show,  in  similar  manner  the  average  rela- 
tive wholesale  prices  of  the  commodities  entering  into 
the  ordinary  budget  of  family  expenditures.  For  the 
purpose  of  presenting  the  changes  in  these  prices  on  a 
uniform  basis  the  Bureau  represents  the  averages  for  the 
ten  years  from  1890  to  1899,  inclusive,  as  one  hundred 

25 


OF  THE 


UNIVERSITY 


per  cent  and  reduces  the  averages  for  each  year  to  per- 
centages of  the  averages  for  the  basic  period.  The  follow- 
ing table  presents  these  figures  for  the  years  1897  to  1907, 
inclusive : 


ass 


11 


Igf 


j 

111 

s 

S    5 

o 

o 

Q. 

M      *>3 

o 

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o 

Lum 

and 

Build 

Mater 

£ 

5 

1 

03 

a 

111 

111 


2  ° 
*5 


*£ 


oNtMoiositaooiwio 

°.  S  S  5  2  g  2  2  2  ^  a  gj 

^eJcvirCoJhsVeo  —  ca  —  £; 

00»OJC»00 —  —  CM  2! 

———————— 

OC0  010)0M  —  —  —  O  —  — 
0»d-IOIOtNO«-  2 

oO>o  —  —  —  —  —  —  ooo 


O*00  08NtS»*tsN-' 

odnioujioeo-Niso1 
oenoso  —  —  —  e^^(NeM'<^■, 


OtMOOKMOIOiONt 


:<*<4-oo>u»c>»mc0coa)o 

«0)ON-W*WN(0W 


aaeooON 
—  c4  <o  ei  C4  o  <o 

O  O  O  O  —  CM   CM 


l«,  **  W  CJ  O*  CO  —  NN»00 

NJCO^W-NNCONN 
COOXOOO-  OOO  —  — 


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Offl00-H)-NN(M!0 


°t.«!«OHNM*loeS 


0)00)0 


27 


From  the  data  in  the  foregoing  table,  which  show  ad- 
vances averaging  nearly  forty-five  per  cent,  the  following 
table,  indicating  the  present  purchasing  power  over  rail- 
way freight  service  of  each  class  of  articles,  in  a  manner 
similar  to  that  adopted  to  measure  the  increased  power  of 
labor  to  buy  railway  freight  transportation,  has  been  de- 
rived : 


Increased 
Relative  prices.  power  to  pur- 

chase railway 


Commodities.  Increase  freight  services 
1897.  1907.  per  cent.  per  cent. 

Farm    products    35.2  137.  J  60.92  69.19 

Food    87.7  117.8  34.32  41.22 

Cloths  and  clothing  91.1  126.7  39.08  46.23 

Fuel  and   lighting    96.4  135.0  40.04  47.24 

Metals    and    implements    86.6  143.4  65.59  74. 10 

Lumber  and  building  materials    90.4  146.9  62.50  70.85 

Drugs   and  chemicals    94.4  109.6  16.10  22.07 

House    furnishing   goods    89.8  118.5  31.96  33.74 

Miscellaneous    92.1  127.1  38.00  45.09 

All   commodities    89.7  129.5  44.37  51.79 


Dun's  Review,  a  periodical  devoted  to  commercial  mat- 
ters, has  also,  for  many  years,  compiled  statistics  of  prices 
and  has  sought  to  reduce  them  to  a  uniform  basis.  These 
figures,  shown  below,  are  intended  to  represent  the  whole- 
sale cost  at  successive  periods,  of  the  articles  of  different 
classes  used  during  one  year  by  the  average  or  typical  in- 
habitant of  the  United  States.  These  costs,  as  compiled 
by  the  authority  named,  and  as  they  were  on  January  I  of 
each  of  the  years  1897  to  1907,  appear  below: 

Relative   Prices. 

Dairy 
Bread-  and         Other  Miscel- 

January   1.        stuff.       Meats.    Garden.      Food.    Clothing.     Metals,     laneous.    Total. 

1897      $11,729      $7,327       $10,456      $8,170      $12,407      $13,014      $12,399      $75,502 

1898  13.511  7.336  12.371  8.312  14.654  11.572  12.184  79.940 

1899  13.816  7.520  11.458  9.096  14.150  11.843  12.540  80.423 

1900  13.254  7.258  13.702  9.200  17.484  18.085  16.312  95.295 

1901  14,486  8.407  15,556  9,504  16,024  15,810  15,881  95,668 

1902  20,002  9.670  15,248  8,952  15,547  15,375  16,793  101,587 

1903  17,104  9,522  14,613  9,418  15,938  17,185  16.578  100,358 

1904  17.102  8.138  15.287  9.653  17.316  15.887  16.759  100.142 

1905  18.278  7.950  13.948  10.699  16.319  16.188  16.936  100.318 

1906  16.544  8.426  14.399  9.822  19.313  17.141  18.809  104.464 

1907  16.079  9.350  14.965  9.760  19.637  18.087  19.386  107.264 

28 


The  increase  shown  by  the  foregoing,  from  $75.50  in 
1897  to  $107.26  in  1907,  amounts  to  49.37  per  cent  and  is, 
therefore,  strongly  corroborative  of  the  substantial  ac- 
curacy of  the  data  supplied  by  the  Bureau  of  Labor.  On 
the  basis  of  the  increased  prices  shown  by  Dun's  Review, 
the  power  to  purchase  railway  freight  service  of  the 
producers  of  the  different  classes  of  commodities  has  in- 
creased in  the  ratios  shown  in  the  last  column  of  the  table 
next  below : 


Power  to  purchase  railway  freight  services. 

At  the 

At  the 

Relative  Prices. 

average  rate 

average  rate 

Class   of 

per  ton  per 

per  ton  per 

Articles. 

January 

January 

mile  of  1897, 

mile  of  1907. 

Increase. 

1,  1897. 

1.  1907. 

ton-miles. 

ton-miles. 

per  cent. 

Breadstuffa    

.     $11,729 

$16,079 

1470 

2118 

44.08 

Meats    

7,327 

9,350 

918 

1232 

34.20 

Dairy  and  garden    . 

.        10.456 

14.965 

1310 

1972 

50.53 

Other  food     

8.170 

9.760 

1024 

1286 

25.59 

Clothing     

12.407 

19.637 

1555 

2587 

66.37 

Metals    

.       13.014 

18.087 

1631 

2383 

46.11 

Miscellaneous    

12,399 

19.386 

1553 

2554 

64.46 

Total     

.     $75,502 

$107,264 

9461 

14132 

49.37 

AGRICULTURAL   PRODUCTS  AND   FREIGHT  RATES. 

The  statistician  to  the  United  States  Department  of 
Agriculture  obtains  annually  a  very  large  number  of  re- 
ports from  farmers  as  to  the  prices  obtained  for  their 
products  and  these  are  carefully  tabulated.  The  results 
show  the  average  prices,  at  the  farms,  of  the  principal 
agricultural  products.  The  following  table  shows  the  in- 
creased prices  obtained  for  such  products,  and  the  in- 
creased power  which  these  producers  enjoy,  per  unit  of 
their  products,  to  purchase  railway  freight  services : 


29 


Increased  power 
Price,  to  purchase 

railway  freight 


Product.  Value  of  Increase         service 
crop  of  1907.           Unit.           1897.           1907.       per  cent.       per  cent. 

Corn     $1,336,901,000        Bushel        $0,263        $0,516  96.20  106.28 

Wheat    554,437,000 

Oats    334,568,000 

Barley    102,290,000 


.808  .874  8.17  13.73 

.212  .443  108.96  119.70 

.377  .666  76.66  85.74 

.447  .731  63.53  71.94 

.421  .698  65.80  74.32 

.547  .618  12,98  18.79 


Rye     23,068,000 

Buckwheat     . . .  9,975,000 

Potatoes    184,184,000 

Hay     773.507,000           Ton             6.62           11.68            76.44               85.51 

Cotton    613,630,436         Pound             .066            .104          57.58               65.68 

Total $3,932,560,436 

Detailed  tables  presenting  the  data  from  which  the 
foregoing  averages  for  the  whole  country  have  been  de- 
rived and  showing  prices  and  purchasing  power  over 
freight  service  have  been  made  Appendix  D,  which  ap- 
pears at  pages  96  to  101,  herein.  These  tables  disclose 
the  uniformity,  throughout  the  United  States,  of  the  ad- 
vance in  agricultural  prices  and  of  the  augmented  com- 
mand of  agricultural  producers  over  railway  freight  ser- 
vice. It  is  impossible  to  include  in  this  appendix  a  table 
for  cotton  as  farm  prices  for  this  commodity  for  separate 
States  are  not  available. 

FARM    ANIMALS   AND   FREIGHT   RATES. 

The  Department  of  Agriculture  of  the  United  States 
also  collects  data  concerning  the  value  of  farm  animals 
and  annually  publishes  the  average  values  reported  for  the 
first  day  of  each  successive  year.  All  classes  of  farm  ani- 
mals have  increased  in  value  since  1897  and  each  repre- 
sents a  greater  command  over  railway  freight  services, 
for  the  sum  representing  the  average  value  of  each  ani- 
mal, will  now  buy  much  more  freight  transportation  than 
it  would  in  1897.    This  is  shown  by  the  following  table: 


30 


Increased  power 

Arerage  price,  i 

Bach. 

to  purchase 

railway  freight 
,         serrlce, 

January  1> 

January  1, 

January  1 

Increase 

1908. 

1897. 

1908. 

per  cent. 

per  cent. 

Horses     $1,867,530,000 

$31.51 

$93.41 

196.45 

211.69 

Mules    416,939,000 

41.66 

107.76 

158.67 

171.97 

Milch  cows   ...      650,057,000 

23.16 

30.67 

32.43 

39.24 

Cattle,       except 

milch  cows  . .      845,938,000 

16.65 

16.89 

1.44 

6.65 

Sheep     211,736.000 

1.82 

3.88 

113.19 

124.15 

Swine    339,030,000 

4.10 

6.05 

47.56 

55.14 

Total    $4,331,230,000 

In  considering  the  foregoing  the  fact  that  the  prices 
relate  solely  to  animals  on  farms  should  be  borne  in  mind. 
They  are  doubtless  somewhat  lower  than  for  animals 
elsewhere  located  but  prices  of  the  latter  have  probably 
moved  in  the  same  direction  and  in  about  the  same  extent. 
Detailed  tables  showing  the  prices  of  farm  animals  by 
States,  as  these  prices  were  reported  to  the  United  States 
Department  of  Agriculture  for  January  i,  1897,  and  Jan- 
uary 1,  1908,  with  the  increases  and  increased  command 
over  railway  freight  service  are  to  be  found  at  pages  102 
to  106,  in  Appendix  E. 

RAILWAY  RATES   IN    1 897   AND  AT   PRESENT   MEASURED   IN 

MONEY. 

Throughout  the  foregoing  discussion  reference  has  fre- 
quently been  made  to  what  has  been  assumed  to  be  a  typi- 
cal shipment,  that  is,  a  fifteen- ton  car-load  of  fourth  class 
freight  transported  between  Chicago  and  New  York.  The 
typical  service  rendered  in  moving  this  shipment  would 
have  brought  the  railways  gross  receipts  of  $105.00, 
in  1897  or  in  any  of  the  intermediate  years,  and 
would  bring  the  same  amount  now.  The  period 
in  question,  however,  has  witnessed  many  thou- 
sands    of    changes     in     railway     rates     on     particular 

31 


commodities  and  between  particular  points  and,  confin- 
ing the  discussion  for  the  present  to  the  mere  expression 
of  rates  in  terms  of  money,  it  is  necessary  to  inquire 
whether  the  general  level  of  all  rates  has  been  raised  or 
lowered  and  how  far  the  change,  if  any  is  discovered,  has 
gone  in  either  direction.  Now,  it  is  manifestly  impossible 
to  correlate  all  rates  in  a  single  tabulation  and,  giving  to 
each  its  proper  weight  in  the  determination  of  a  final  aver- 
age, thus  establish  definitely  and  with  complete  precis- 
ion the  relation  between  the  money  rates  of  1897  and  those 
of  the  present  time.  The  number  of  different  articles  ship- 
ped and  the  great  number  of  different  points  at  which 
each  article  may  enter  into  the  aggregate  of  traffic  move- 
ment or  to  which  it  may  be  destined,  as  well  as  the  elusive 
character  of  the  factors  which  would  indicate  the  relative 
weight  properly  to  be  allowed  to  each  separate  rate,  wholly 
preclude  the  adoption  of  such  a  method.  Fortunately, 
however,  American  railway  accountants  long  ago  adopted 
a  measure  of  traffic  movement,  which  was  later  officially 
sanctioned  by  its  adoption  for  the  same  purpose  by  the 
Interstate  Commerce  Commission,  and  which,  when  com- 
pared with  the  gross  receipts  from  freight  service,  results 
in  an  average  that  throws  great  light  upon  the  move- 
ment or  absence  of  movement  in  the  general  level  of  the 
rates  charged.  When  the  weight  of  any  shipment,  ex- 
pressed in  tons,  is  multiplied  by  the  distance  which  it  is 
carried,  expressed  in  miles,  the  resulting  product  gives  a 
measure  of  the  service  performed,  in  units  which  are  des- 
ignated as  "ton-miles."  When  the  ton-miles  (or  ton- 
mileage)  of  all  shipments  are  aggregated  the  total  repre- 
sents the  sum  of  all  services.    The  result  of  dividing  the 

32 


revenue  from  a  particular  shipment  by  its  ton-mileage  is 
the  average  rate  per  ton  per  mile  for  that  shipment  and 
if  the  sum  representing  the  aggregate  gross  receipts  from 
all  railway  freight  services  is  divided  by  the  aggregate 
ton-mileage  of  those  services  the  quotient  obtained  is  the 
average  ton-mile  rate  for  all  services.  During  the  period 
from  1897  to  1907  these  data  have  been  compiled  annu- 
ally by  the  Interstate  Commerce  Commission  under  the 
direction  of  Professor  Henry  C.  Adams,  its  statistician, 
who  is  also  one  of  the  most  distinguished  among  Ameri- 
can teachers  of  Economics.  The  average  rates  thus  es- 
tablished are  given  both  for  the  United  States  as  a  whole 
and  for  each  of  ten  districts  or  groups.  The  following 
table  shows  these  averages  as  they  are  given  in  the  suc- 
cessive annual  statistical  reports  of  the  Commission: 


33 


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34 


The  foregoing  shows  that  the  average  rates  per  ton  per 
mile,  expressed  in  money,  were  lower  in  every  group  but 
one,  as  well  as  in  the  whole  country,  in  1907  than  they 
were  in  1897.  The  average  for  the  whole  country  was 
lower  in  1907  than  in  any  other  year  shown  except  the 
years  1898  to  1902,  inclusive,  and  for  three  of  those  years 
the  difference  was  less  than  one-tenth  of  one  mill.  The 
decrease  in  the  general  average  from  1897  to  1907  was 
4.89  per  cent  and  the  increase  from  1899,  the  year  of  the 
lowest  average,  was  4.83  per  cent. 

Undoubtedly  the  ton-mile  unit  of  traffic  might  change 
in  quality  and  it  has  been  urged  that  such  a  change  may 
be  sufficiently  rapid  to  vitiate  such  comparisons  as  those 
afforded  by  the  table  last  above  given.  The  possibility  of 
this  variation  and  its  causes  and  probable  extent  are  dis- 
cussed in  a  report  made  to  the  Committee  on  Interstate 
Commerce  of  the  United  States  Senate  by  Professor 
Henry  C.  Adams,  statistician  to  the  Interstate  Commerce 
Commission,  and  Mr.  H.  T.  Newcomb,  of  Washington, 
D.  C.    They  said  in  part : 

"The  number  of  tons  carried  one  mile  over  the  railv/ays 
of  the  United  States  during  a  given  year  is  the  equivalent 
of  the  total  number  of  tons  carried  of  all  kinds  of  freight 
multiplied  by  the  average  distance  transported.  Dividing  this 
aggregate  into  the  total  amount  received  for  freight  services. 
a  quotient  is  obtained  which  is  the  average  amount  received 
for  carrying  a  typical  ton  of  freight  one  mile.  It  is  obvious, 
however,  that  the  unit  might  fluctuate  considerably  in  char- 
acter, owing  to  variations  in  the  proportion  to  the  aggre- 
gate tonnage  of  shipments  of  high  and  low  class  freight,  re- 
spectively, or  without  such  variation,  from  changes  in  the 
geographical  distribution  of  the  volume  of  shipments.  Thus, 
if  freight  of  the  higher  grades  should  increase,  proportion- 
ately to  the  total  movement,  much  more  rapidly  than  low- 
grade  freight  the  quality  of  the  ton-mile  unit  would  become 
higher  and  an  increase  in  the  receipts  per  ton  per  mile, 
other  factors  remaining  unchanged,  would  result. 

"Again,  if  the  volume  of  movement  east  of  the  Missis- 
sippi river,  where  the  rates  are  upon  the  average  lower  than 


in  the  region  west  of  that  river,  should  grow  relatively  faster 
than  in  the  rest  of  the  country,  the  average  receipts  per  ton 
per  mile  would  show  a  decrease  which  would  not  represent 
a  genuine  change  in  the  general  level  of  charges.  Changes 
of  this  general  character  and  in  both  directions  are  going  on 
at  all  times"* 

Continuing,  Professor  Adams  and  Mr.  Newcomb  made 

the  following  statement  concerning  the  situation  as  it  then 

existed : 

"The  only  testimony  on  this  point  before  the  Committee 
is  to  the  effect  that  since  1899  traffic  of  the  higher  grades  has 
increased  more  rapidly  than  that  of  lower  grades,  and  that 
the_ proportionate  increase  in  volume  has  been  greater  in  the 
regions  where  normal  rates  are  higher.  Available  evidence 
upon  this  point  is  not  extensive.  It  is,  however,  sufficient 
at  least  to  warrant  the  statement  that  comparisons  between 
the  average  ton-mile  revenue  for  the  railways  of  the  United 
States  during  the  years  1899  and  1904  affords  a  maximum 
measure  of  the  increase  in  average  money  rates.  The  change 
was  from  7.24  mills  in  1899  to  7.80  mills  in  1904,  or  7.73  per 
cent.  It  may,  therefore,  be  regarded  as  certain  that  during 
the  period  in  question  the  general  level  of  railway  rates, 
expressed  in  money,  has  not  increased  more  than  7.73  per 
cent."f 

The  only  significant  change  since  the  year  1904,  which 
might  offset  the  application  of  the  foregoing,  lies  in  the 
fact  that  the  average  ton-mile  rate  declined  from  7.80 
mills  in  that  year  to  7.59  mills  in  1907.  The  logic  of  Pro- 
fessor Adams  and  his  co-worker  in  the  preparation  of  the 
report  quoted  is  just  as  accurate  now  as  it  was  when  they 
wrote  and  it  is  still  true  that  there  can  have  been  no  raising 
of  the  general  level  of  railway  freight  rates  not  disclosed 
by  the  average  rate  per  ton  per  mile.  And  this  average 
was,  as  has  been  noted,  lower  in  1907  than  in  1897  and 
only  slightly  higher  (less  than  five  per  cent)  than  in  the 
year  which  shows  the  lowest  average  in  the  history  of 
American  railways. 

*Digest  of  the  hearings  before  the  Committee  on  Interstate 
Commerce  of  the  United  States  Senate,  compiled  by  order  of 
the  Committee  by  Henry  C.  Adams  and  H.  T.  Newcomb.  Sen- 
ate Document  No.  244,  Fifty-ninth  Congress,  First  Session,  p.  77. 

f  Ibid.  p.  77- 

3* 


So  far  as  the  quality  of  the  ton-mile  unit  is  affected  by 
changes  in  the  geographical  distribution  of  traffic  the  ten- 
dency between  1897  and  1907  was  toward  a  higher  qual- 
ity, for  traffic  movement  grew  more  rapidly  in  the  re- 
gions where  rates  are  normally  higher  than  it  did  in  the 
regions  of  lower  rates.  In  the  following  statement  the 
groups  used  by  the  Interstate  Commerce  Commission 
are  arranged  with  the  group  in  which  ton-mileage 
increased  most  rapidly  from  1897  to  1907  at  the  top,  the 
group  that  increased  next  most  rapidly  in  the  second  line 
and  so  on  to  the  group  that  increased  least  rapidly  at  the 
bottom : 

_         ....  .   .  ..  Average  rate  per  ton 

Tons  of  freight  carried  one  mile.  Increase,         per  mile,  in  mills. 

Group.  1897.  1907.  per  cent.  In  1897.        In  1907 


X. 

3,133,623,734 

11,252,450,440 

259.09 

12.75 

11.63 

vn. 

2,633,860,958 

9,300.234,849 

253.10 

11.48 

9.33 

vni. 

6,333,591,463 

17,406,430,971 

174.83 

10.79 

9.66 

m. 

17,587,334,609 

47,994,909,002 

172.39 

6.05 

5.98 

v. 

6,802,119,489 

17,397,321,360 

155.76 

8.64 

8.27 

VL 

17,393,471,480 

44,318,734,155 

154.80 

8.55 

7.43 

IX. 

3,165,108,561 

7,546,655,555 

138.43 

10.40 

10.51 

rv. 

4.936.635,046 

11,418,243,141 

131.30 

6.48 

7.03 

n. 

29,579,613,559 

63,455,243,659 

114.52 

6.75 

6.55 

i. 

3,573,663,326 

6,511,166,971 

82.20 

12.02 

11.45 

United         95,139,022,225  236,601,390,103  148.69  7.98  7.59 

States 

It  will  be  noted  from  the  foregoing  that  the  group  in 
which  the  average  rates  were  highest  in  both  1897  and 
1907  shows  the  most  rapid  increase  in  traffic  movement 
and  that,  with  few  exceptions,  the  regions  of  higher  rates 
show  more  rapid  augmentation  of  ton-mileage.  This  is 
exactly  what  might  have  been  anticipated,  for  the  highest 
average  rates  are  usually  to  be  found  in  the  regions  most 
scantily  populated  and,  as  these  regions  are  filling  up  and 
are  therefore  those  most  rapidly  growing  in  population 
and  industry,  they  naturally  show  the  greatest  rela- 
tive   increases    in    freight    tonnage.       The    only    not- 

37 


able  exception  is  furnished  by  New  England,  a  region  of 
high  development  but  where  traffic  movement  is  largely  of 
a  character  which  imposes  higher  average  rates.  In  the 
following  table,  the  traffic  increase  is  given  for  the  re- 
gions that  had  ton-mile  rate  averages  above  and  below  the 
average  for  the  whole  country,  in  1897: 


Ton  mileage. 
In  1897.                     In  1907. 

Increase, 
per  cent. 

Ton  mile  rates  abOTe  the  average   

Ton  mile  rates  below  the  average  .... 

43,035,439,011 

52,103,583,214 

113,732,994,301 
122,868,395,802 

164.28 
135.82 

Total     

95,139,022.225 

236,601,390,103 

148.69 

The  region  with  rates  above  the  average  in  1897  had 
45.23  per  cent  of  the  total  ton-mileage  in  that  year,  and 
48.07  per  cent  in  the  year  1907.  Of  the  total  increase  in 
traffic  movement  49.98  per  cent  was  in  this  region.  The 
precise  effect  that  these  changes  in  the  geographical  dis- 
tribution of  ton-mileage  would  have  had  upon  the  aver- 
age ton-mile  rate  for  the  whole  country  is  shown  by  the 
computation  set  forth  in  the  following  table : 


Group 


Ton  mileage 
of  1907. 


Ton-mile  rates  of 
1897  in  mills. 


Product  of 

ton -mileage  of 

1907  and  ton-mile 

rates  of  1897. 


I. 
II. 

in. 
rv. 
v. 

VI. 

vn. 
vin. 


6,511,166,971 

12.02 

$78,264,226.99 

63,455,243,659 

6.75 

428,322,894.70 

47,994,9«9,»82 

6.05 

290,369,199.46 

11,418,243,141 

6.48 

73,990,215.55 

!7,397,32l,360 

8.64 

150,312,856.55 

44,318,734,155 

8.55 

378,925,177.03 

9,300,234,849 

11.48 

106,766,896.07 

17,406,430,971 

10.79 

187,815,390.18 

7,546,655.555 

10.40 

78,485,217.77 

11,252,410,440 

12.75 

143,468,743. 1 1 

United  States. 


235,691,390,103 


$1,916,720,617.41 


By  dividing  the  aggregate  of  the  products  in  the  last 
column  of  the  foregoing  by  the  total  ton-mileage  shown 
in  the  second  column,  an  average  is  obtained  which  rep- 
resents the  ton-mile  rate  that  would  have  resulted  in  1907 

3S 


had  the  traffic  of  each  group  in  that  year  moved  in  pre- 
cisely the  same  volume  in  which  it  actually  moved  and 
had  the  average  rates  in  each  group  been  exactly  the  same 
as  they  were  in  1897.  This  shows  that,  under  the  condi- 
tions assumed,  the  average  ton-mile  rate  for  the  whole 
country  would  have  been  8.10  mills  or  0.12  mill  higher 
than  in  1897.  This  advance  of  1.50  per  cent  would  have 
been  wholly  due  to  the  more  rapid  growth  of  traffic  in  the 
regions  of  normally  higher  rates.  The  chief  significance 
of  so  small  a  change  in  so  long  a  period  is,  really,  to  indi- 
cate that  the  ton-mile  unit,  so  far  from  being  of  rapidly 
changing  character,  is  actually,  at  least  as  far  as  it  might 
be  assumed  to  be  affected  by  changes  in  the  location  of 
traffic  movement,  a  fairly  stable  unit  and  thus  an  excellent 
measure  of  the  rise  or  fall  in  rates.  Whether  the  same 
conclusion  is  to  be  derived  from  a  study  of  the  changes 
in  the  proportion  of  the  total  movement  made  up  of  com- 
modities of  different  grades  and  naturally  taking  different 
rates  is  now  to  be  made  the  subject  of  inquiry. 

Publication  of  the  classified  statistics  of  tonnage  neces- 
sary for  such  an  inquiry  was  begun  by  the  Interstate 
Commerce  Commission  with  the  report  for  the  year  1899. 
Consequently  it  is  not  practicable  to  extend  the  inquiry 
to  a  period  prior  to  that  year.  The  following  statement 
shows  the  number  of  tons  of  freight  of  each  of  the  classes 
of  commodities  named  which  were  received  by  the  rail- 
ways for  transportation  in  1899,  1903,  and  1907  and  the 
proportion  of  the  tonnage  in  each  class  to  the  total  num- 
ber of  tons  carried : 


39 


Tons.  Percentage  of  total  tonnage. 

Class  of  commodity. 1899. 1903.  1907.  1899.        1903.       1907. 

Products    of    agriculture    .  50,073,963  61,056,212  77.030,071  11.33  9.56  8.62 

Products    of    animals    13,774,964  16,802,893  20,473,486  3.12  2.63  2.29 

Products    of   mines    227,453,154  329,335,621  476,899,638  51.47  51.56  53.39 

Products    of   forest    48,122,447  74,559,980  101,617,724  10.89  11.67  11.38 

Manufactures     59,415,205  91,980,903  137,621,443  13.45  14.39  15.4! 

Merchandise     19,844,735  29,949,022  34,718,487  4.49  4.69  3.89 

Miscellaneous     23,197,155  35,116,027  44,824.123  5.25  5.50  5.02 

Total     441,881,623     638,800,658     893.184,972     100.00     100.00     100.00 

It  should  be  observed  that  the  foregoing  statement 
represents  tons  received  for  shipment  regardless  of  the 
distance  carried  and,  in  consequence,  does  not  throw  the 
light  upon  traffic  movement  that  would  be  available  if  it 
were  possible  to  know  the  ton-mileage  of  each  class  of 
commodities.  Nevertheless,  the  data  undoubtedly  convey 
some  information  as  to  the  character  of  the  ton-mile  unit 
during  the  different  years  and  the  nature  of  the  changes 
in  its  quality  which  are  in  progress.  This  will  be  made 
more  evident  by  the  following  table  showing  comparisons 
for  the  years  1899  and  1907: 


Class    of    commodity.  Increase, 

1899.  1907.  Amount.      Per  cent. 

Products    of    agriculture    50,073,963 

Products    of    animals    13,774,964 

Products    of    mines    227,453,154 

Products    of    forest    48,122,447 

Manufactures     59,4 1 5,205 

Merchandise     19,844,735 

Miscellaneous      23, 197, 155 

Total     441,881,623        893,184,972        451,303,349 


Obviously  the  effect  of  the  increases  shown  in  the  fore- 
going upon  the  quality  of  the  average  ton-mile  must  be  in 
proportion  as  they  have  exceeded  or  fallen  short  of  the 
average  increase  shown  at  the  foot  of  the  last  column. 
There  is  no  question  that,  in  general,  products  of  agri- 
culture, animals,  forests  and  mines  are  low-grade  com- 
modities, or  that,  on  the  other  hand,  the  commodities 

4C 


77,030,071 

26,956,108 

53.83 

20,473,486 

6,693,522 

48.63 

476,899,638 

249,446,484 

109.67 

101,617,724 

53,495,277 

111.16 

137,621,443 

78,206,238 

131.63 

34,718,487 

14,873,752 

74.95 

44,824,123 

21,626,968 

93.23 

classed  as  manufactures,  merchandise  and  miscellaneous 
are  high-grade  articles.  An  increase  in  excess  of  the  gen- 
eral average  increase  in  the  first  four  classes  named  would 
tend  to  lower  the  quality  of  the  average  ton-mile  while  the 
opposite  effect,  that  is  a  raising  of  the  quality,  would 
result  if  the  last  three  classes  should  increase  more  rap- 
idly than  the  increase  in  all  tonnage.  Adopting  this  clas- 
sification the  following  shows  the  respective  increases  in 
high-grade  and  low-grade  tonnage : 


Class  of  commodity. 

1899. 

Tons. 
1907. 

Increase. 
Amount.      Per  cent. 

102,457,095 

217,164,053 
676,020,919 

114,706,958         111.96 

339,424,528 

336,596,391          99.17 

Total     

441,881,623 

893,184,972 

451,303,349         102.13 

The  considerably  greater  increase  in  the  tonnage  of 
high-grade  articles  indicated  by  the  foregoing  is  scarcely 
within  the  possible  margin  of  error  in  the  classification 
but,  in  any  event,  what  the  figures  certainly  prove  is  the 
absence  of  any  actually  far-reaching  change  in  the  typical 
or  average  unit  of  traffic.  That  this  conclusion  extends 
to  traffic  movement  is  clearly  probable. 

MOVEMENT  OF  LOADED  CARS. 

Still  another  plain  deduction  from  the  official  statistics 
supports  the  conclusion  that  the  quality  of  the  ton-mile 
average  has  not  been  lowered  during  recent  years.  Since 
the  fiscal  year  1901  the  Interstate  Commerce  Commission 
has  shown,  annually,  a  classification  of  loaded  freight  cars 
accordingly  as  they  have  moved  westward  or  southward, 
on  the  one  hand,  or  eastward  or  northward,  upon  the 
other.    It  is  a  matter  of  common  knowledge  that,  in  gen- 

41 


eral,  the  coarser  and  cheaper  articles  of  freight  traffic 
move  eastward  and  northward  while  the  finer  and  more 
costly  articles  of  traffic  preponderate  in  the  westward 
and  southward  movement.  Therefore  a  relatively  greater 
increase  in  the  loaded  freight  car  movement  toward  the 
West  or  South  means  a  corresponding  rise  in  the  quality 
of  the  average  ton-mile.  Everyone  knows  that  there  was 
a  relatively  greater  increase  of  this  sort  from  1897  to 
1891,  but  unfortunately,  the  official  statistics  do  not  cover 
the  years  prior  to  190 1.  The  data  for  the  years  1901  and 
1907  appear  below : 


Percentage  of 

Total  number  of  loaded 

Number  of  loaded 

loaded  freight 

freight  caro 

classified  by 

freight  cars  moving          cars  moving  south- 

direction  of  movement. 

southward  or  westward.        ward  or  wostward. 

Group 

1901. 

1907. 

1901. 

1907. 

1901. 

1907. 

L 

147,277,249 

266,167,549 

59,344,040 

115,280,667 

40.29 

43.31 

II. 

1, 426,635,988 

2,192,215,262 

494,495,960 

883,609,250 

34.66 

40.3 1 

in. 

1,467,331,953 

2,027,708,882 

657,604,962 

964,129,961 

44.82 

47.55 

IV. 

406,331,071 

544,565,406 

146,367,137 

220,397,204 

36.02 

40.47 

v. 

733,576,352 

1,035,144,669 

393,793,919 

526,505,742 

53.68 

50.86 

VI. 

1,482,189,103 

2,135,957,477 

714,144,699 

1,031,493,373 

48.18 

43.29 

VII. 

233,103,859 

402,981,635 

105,948,378 

194,964,629 

45.45 

48.38 

vm. 

775,407,114 

1,061,946,655 

378,453,439 

547,886,036 

48.81 

51.59 

IX. 

344,590,530 

456,997,306 

201,837.924 

270,209,838 

58.57 

59.13 

X. 

224,828,719 

616,061,255 

120,809,643 

332,087,888 

53.73 

53.91 

United 
States 

7,241,271,038 

10,739.746,096 

3,272,799,201 

5.086,564,588 

45.20 

47.36 

The  foregoing  shows  a  slight  increase  in  the  westward 
and  southward  movement  but  is  valuable  chiefly  as  show- 
ing that  there  was,  in  this  particular,  no  lowering  in  the 
quality  of  the  ton-mile  unit.  It  should  be  noted  that  the 
apparently  slight  increase  of  2.16  per  cent  in  westward 
and  southward  movement  is  equivalent  to  no  less  than 
231,978,516  loaded  cars. 

LOWER  CLASSIFICATION  OF  FREIGHT. 

The  evidence  already  marshalled,  showing  that  the 
average  rate  per  ton-mile  has  decreased  and  that  the  ton- 

42 


mile  unit  is,  at  least,  of  no  lower  quality  than  it  was  in 
1897,  is  corroborated  by  a  study  of  the  successive  classi- 
fications of  freight  in  use  in  the  region  east  of  the  Mis- 
sissippi river  and  north  of  the  James,  Potomac  and  Ohio 
rivers.  A  very  careful  and  comprehensive  study  of  these 
classifications  has  been  made  for  the  especial  purpose  of 
aiding  in  the  present  discussion.  In  this  study  the  classi- 
fication in  use  in  1908  has  been  compared  separately  with 
those  in  use  in  1898  and  1888  and  the  classification  in  use 
in  1898  with  that  used  in  188S.  Each  comparison  shows, 
as  might  have  been  expected,  changes  in  both  directions, 
but,  in  every  case,  the  largely  preponderating  number  of 
changes  have  been  by  the  transfer  of  commodities  from 
higher  to  lower  classes,  thus  bringing  about  the  applica- 
tion to  them  of  lower  rates  of  transportation. 

The  two  following  tables  show  the  rates  which  would 
have  been  applied  per  one  hundred  pounds  upon  shipments 
from  New  York  to  Chicago  of  the  articles  that  have  been 
advanced  or  reduced  in  classification.  As  the  absence 
of  statistics  of  volume  of  movement  for  different  classified 
articles  has  made  necessary  the  adoption  of  a  method  of 
tabulation  which  ignores  such  differences  it  should  be  un- 
derstood that,  in  fact,  the  preponderance  of  decreases  is  on 
articles  which  contribute  most  largely  to  the  total  tonnage 
while  the  reverse  is  true  as  to  the  greater  number  of  in- 
creases in  classification. 

The  table  first  following  compares  the  classifications 
and  rates  of  1898  and  1908  in  regard  to  shipments  in  less 
than  car  load  quantities. 


43 


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The  foregoing  shows  that,  between  1898  and  1908  there 
were  638  advances  and  296  reductions  in  the  classification 
of  articles  carried  in  less  than  carload  quantities,  but  the 
296  reductions  amounted,  on  the  basis  of  shipment  of  one 
hundred  pounds  each  of  all  of  the  articles  reduced,  to  an 
aggregate  of  $71.35,  while  the  638  advances,  on  the  same 
basis,  amounted  to  $69.97 1/2.  Shipments  in  carload  quan- 
tities are  more  economically  handled  in  many  respects  and 
there  has  been  a  wisely  directed  effort  to  adjust  rates  so 
as  to  stimulate  such  movement  in  cases  in  which  it  is  prac- 
ticable. The  following  table,  similar  to  the  preceding  one 
in  every  other  respect  but  relating  wholly  to  the  classifi- 
cation of  articles  when  shipped  in  carload  quantities,  ac- 
cordingly shows  a  much  greater  proportion  of  reductions : 


45 


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Thus,  in  respect  to  the  more  numerous  and,  therefore, 
more  important  shipments  in  carload  quantities  it  appears 
that  there  were  580  reductions  as  against  259  advances 
and  that  the  aggregate  of  the  reductions  was  $129.72^ 
while  that  of  the  advances  was,  only  $27.05.  The  follow- 
ing summary  of  the  two  preceding  tables  is  highly  sug- 
gestive : 

Less  than  car-  Carload  All 

load  shipments.  shipments.  shipments. 

Reclassifications : 

Number     934  839  1773 

Reductions — 

Number    296  580  876 

Per    cent     31.69  69.13  49.41 

Cost  of  shipment  of  100  lbs.   each  of 
all  articles: 

In    1898     $536.30  $436.72'/2  $973.02'/2 

In    1908    534.92</2  334.05  868.97'/2 

Amount   $l.37«/2  $!02.67'/2  $104.05 

Per    cent    0.26  23.51  10.69 

The  above  summary  shows  that  the  net  result  of  all  the 
classification  changes  of  the  ten-year  period  under  com- 
parison is  a  reduction  in  the  charges  for  moving  those 
articles  of  10.69  Per  cent-  That  is  to  say,  although,  dol- 
lar for  dollar,  the  money  received  by  the  railways  will  pay 
for  much  less,  in  labor  or  supplies,  than  it  would  ten  years 
ago,  the  railways  offer  to  carry  as  much  of  the  reclassified 
articles  for  $89.31  in  1908  as  they  carried  for  $100.00  in 
1898.  This  comparison  takes  account  of  all  articles  which 
have  either  been  lowered  or  advanced  in  classification 
but  excludes  those  that  have  remained  unchanged.  It 
also  takes  no  account  of  the  differences  in  volume  of 
movement. 

Similar  comparisons  between  the  years  1888  and  1908 
show  similar  results  but  with  more  numerous  and  greater 
•reductions.    These  results  are  summarized  below : 

47 


Less  than 

carload  Carload  All 

shipments.  shipments.  shipments. 


Reclassifications — 

Number     913  912  1,825 

Reductions — 

Number    387  684  1,071 

Per    cent     42.39  75.00  58.68 

Cost  of  shipment  of  100  lbs.  each  of  all  articles — 

In   1888    $586.30  $528.02'/2  $l,ll4.32'/2 

In    1908     569.40  349.65  919.05 

Amount     $16.90  $l78.37'/2  $l95.27«/8 

Per   cent    2.88  33.78  17.52 


The  facts  disclosed  by  a  similar  tabulation  based  upon 
analyses  of  the  classifications  in  force  in  the  years  i! 
and  1898  are  summarized  in  the  following  table : 


Reclassifications 

Number  

Reductions 

Number    

Per  cent    

Cost  of  shipment  of  100  lbs.  each  of  all 

articles 

In   1888    

In   1898    

Decrease 

Amount    

Per  cent    


The  detailed  tables  which  are  the  bases  of  the  two  fore- 
going summaries  appear  in  Appendix  F,  at  pages  107  to 
in. 

PRICES    AND   ACTUAL   RATES. 

Comparisons  between  actual  prices  of  commodities 
shipped  by  rail  and  typical  freight  charges  on  the  same 
articles,  for  1897  and  1907,  demonstrate  the  fact  that 
while  prices  have  almost  uniformly  advanced  the  greater 
number  of  rates  have  remained  stationary  while  among 
those  which  have  changed  the  reductions  are  as  numerous 
as  the  advances  and  exceed  the  latter  in  extent  and  im- 
portance.   In  the  table  which  follows  the  prices  are  those 

48 


Less  than  car- 
load shipments. 

Carload 
shipments. 

All  ship- 
ments. 

574 

673 

1247 

320 
55.75 

514 
76.37 

834 
66.88 

$4l7.i7'/2 
393.02'/2 

9404.121/z 
273.32'/2 

$821.30 
666.35 

$24.15 

5.79 

$130.80 
32.37 

$154.95 
18.87 

collected  and  reported  by  the  Bureau  of  Labor  of  the 
United  States  Department  of  Commerce  and  Labor  and 
the  rates  are  those  between  principal  points  of  shipment. 
The  figures  in  the  last  two  columns  show  the  respective 
relations  of  the  prices  of  1907,  the  last  officially  reported, 
and  the  rates  of  the  same  year  to  the  prices  and  rates  of 
1897. 


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53 


Examination  of  the  foregoing  table  shows  that  it  con- 
tains the  prices  in  1897  and  1907  of  229  articles  and  that 
among  these  204  prices  or  89.08  per  cent  of  the  total  were 
increased.  The  rates  on  forty-nine  of  these  articles  were 
advanced  an  average  of  13.14  per  cent  and  the  rates  on 
forty-eight  of  them  were  reduced  an  average  of  16.44  F^1" 
cent.  Other  conclusions  are  shown  in  the  following 
summary  table : 

Aggregate         Average 

Item.  Number.  Percent.        percentage        changes. 

of  total.        of  changes.        per  cent. 

Prices — 

Advanced     204 

Reduced    13 

Unchanged    12 

Total     229 

Rates  advanced — 

Prices  advanced    44 

Prices   reduced    3 

Prices  unchanged   2 

Total     49 

Rates   reduced — 

Prices    advanced     42 

Prices   reduced    3 

Prices    unchanged    3 

Total     48 

Rates  unchanged — 

Prices  advanced    118 

Prices   reduced    7 

Prices  unchanged   7 

Total     132 

The  foregoing  shows  that  while  prices  were  advanced 
for  204  of  the  229  articles,  or  89.08  per  cent  of  the  entire 
number  included  in  the  table,  the  freight  rates  on  the 
same  articles,  as  expressed  in  money,  were  advanced  in 
but  forty-nine  instances,  or  21.40  per  cent  of  the  total, 
money  rates  were  reduced  in  forty-eight  instances,  or 
20.96  per  cent  of  the  total,  and  remained  stationary  in  118 
instances,  or  57.64  per  cent  of  the  total.  Of  the  rates  ad- 
vanced forty-four  were  in  cases  in  which  the  prices  had 
also  advanced  and  of  the  rates  reduced,  forty-two  applied 
to  articles  which  had  advanced  in  price.    Even  as  to  the 

59 


89.08 

5.68 

5.24 

100.00 

11,340 
330 

55.59 
25.38 

19.22 

1.31 

.87 

21.40 

606 

30 

8 

644 

13.77 
10.00 
4.00 
13.14 

18.34 
1.31 
1.31 

20.9G 

708 
33 
48 

789 

16.86 
11.00 
16.00 
16.44 

51.52 
3.06 
3.06 

57.64 

commodities  which  had  advanced  in  price,  the  average 
advance  being  over  fifty-five  per  cent,  money  rates  were 
advanced  in  but  forty-four  instances  out  of  204  and  the 
average  advance  was  but  13.77  per  cent  and  there  were 
forty-two  reductions  in  money  rates,  s\ich  reductions  av- 
eraging 16.86  per  cent. 

SIGNIFICANCE  OF  THE  DEPRECIATION   OF    MONEY. 

It  has  now  been  fully  demonstrated  (first)  that  the 
railways  have  to  pay  much  more,  probably  not  less  on  the 
average  than  twenty-five  per  cent  more,  for  everything 
they  require  in  the  conduct  of  their  business,  including 
labor,  than  they  did  ten  years  ago,  (second)  that  those 
who  make  use  of  railway  services  receive  much  more, 
probably  not  less  on  the  average  than  twenty-five  per 
cent  more,  for  their  labor  or  for  the  commodities  which 
they  produce  than  they  did  ten  years  ago,  (third)  that  av- 
erage rates  per  ton  per  mile  for  railway  freight  transpor- 
tation, expressed  in  money,  that  is  to  say  in  dollars  and 
decimal  fractions  of  dollars,  are  now  somewhat  lower 
than  they  were  in  1897  or  formerly,  and  (fourth)  that  the 
ton  mile  unit  is  an  highly  stable  one  as  to  quality  and  that 
in  consequence  of  this  stability  the  ton  mile  rates  accur- 
ately answer  the  question  whether  rates,  expressed  in 
money,  have  remained  stationary,  have  advanced  or  have 
declined.  The  latter  conclusion  has  been  supplemented 
and  re-enforced  by  data  from  the  classifications  and 
rate  schedules  which  tend  strongly  to  prove 
the  same  fact.  Therefore,  it  has  been  made  plainly  ap- 
parent that  there  has  been  a  decline  in  money  rates  since 
1897.    But  railways  require  money  only  to  remunerate  the 

60 


highly  skilled  labor  they  employ,  to  purchase  necessary 
materials  and  supplies,  to  pay  taxes  and  to  compensate  the 
capital  they  use.  Consequently  money  is  worth  to  the  rail- 
way corporation,  as  to  the  wage-earner,  only  what  it  will 
buy  for  the  satisfaction  of  wants.  A  dollar  which  will 
pay  for  less  labor  or  buy  less  fuel  for  locomotives 
is  worth  less  to  the  railway  just  as  a  dollar  that 
will  buy  less  bread  or  clothing  is  worth  less  to  the 
man  who  works  for  wages  or  receives  it  as  interest  on 
his  savings.  It  has  long  been  realized  that  any  effort  to 
study  the  question  of  wages,  throughout  an  extended 
period,  which  fails  to  take  into  consideration  the  pur- 
chasing power  of  the  money  received  is  worse  than  value- 
less, because  it  is  deceptive  and  misleading.  It  has  been 
generally  recognized  also  that  any  effort  to  consider  the 
condition  of  particular  classes  of  producers  by  compari- 
sons of  the  prices  obtained  for  their  products  at  different 
periods,  as  that  of  farmers  by  the  prices  of  corn  and 
wheat,  is  similarly  dangerous  unless  these  prices  are 
turned  into  quantities  of  the  commodities  which  such  pro- 
ducers must  purchase.  Brief  quotations  from  economists 
of  the  highest  authority  will  serve  to  make  this  point 
clearer.    In  "The  Wealth  of  Nations"  Adam  Smith  said : 

"Every  man  is  rich  or  poor  according  to  the  degree  in 
which  he  can  afford  to  enjoy  the  necessaries,  conveniences, 
and  amusements  of  human  life.  .  .  .  The  real  price  of 
everything,  what  everything  really  costs  to  the  man  who 
wants  to  acquire  it,  is  the  toil  and  trouble  of  acquiring  it. 
What  everything  is  really  worth  to  the  man  who  has  acquired 
it  and  who  wants  to  dispose  of  it  or  exchange  it  for  some- 
thing else  is  the  toil  and  trouble  which  it  can  save  to  him- 
self and  which  it  can  impose  upon  other  people.  .  .  . 
The  exchangeable  value  of  everything  must  be  equal  to  the 
extent  of  this  power  which  it  will  convey  to  its  owner.  .  .  . 
'Every  particular  commodity  is  more  frequently  exchanged 
for  money  than  for  any  other  commodity.  The  butcher  sel- 
dom carries  his  beef  or  his  mutton  to  the  baker  or  the 

61 


brewer  in  order  to  exchange  them  for  bread  or  for  beer,  but 
he  carries  them  to  the  market,  where  he  exchanges  them  for 
money.  .  .  .  The  quantity  of  money  which  he  gets  for 
them  regulates,  too,  the  quantity  of  bread  and  beer  which  he 
can  afterwards  purchase.  .  .  .  Gold  and  silver,  however, 
like  every  other  commodity,  vary  in  their  value,  are  some- 
times cheaper  and  sometimes  dearer,  sometimes  of  easier 
and  sometimes  of  more  difficult  purchase.  .  .  .  The  dis- 
covery of  the  abundant  mines  of  America  reduced  in  the  six- 
teenth century  the  value  of  gold  and  silver  in  Europe  to 
about  a  third  of  what  it  had  been  before.  .  .  .  But  as  a 
measure  of  quantity,  such  as  the  natural  foot,  fathom,  or 
handful,  which  is  continually  varying  in  its  own  quantity, 
can  never  be  an  accurate  measure  of  the  quantity  of  other 
things,  so  a  commodity  which  is  itself  continually  varying  in 
its  own  value  can  never  be  an  accurate  measure  of  the  value  of 
other  commodities.  ...  At  all  times  and  places  that  is 
dear  which  it  is  difficult  to  come  at  or  which  it  costs  much 
labor  to  acquire  and  that  cheap  which  is  to  be  had  easily  or 
with  very  little  labor.  .  .  .  Commodities  may  be  said  to 
have  a  real  and  nominal  price.  .  .  .  Real  price  may  be  said 
to  consist  in  the  quantity  of  the  necessaries  and  conveniences  of 
life.  .  .  .  Nominal  price  is  the  quantity  of  money.  .  .  . 
The  distinction  between  the  real  and  the  nominal  price  of 
commodities  and  labor  is  not  a  matter  of  mere  speculation, 
but  may  sometimes  be  of  considerable  use  in  practice.  The 
same  real  price  is  always  at  the  same  value,  but  on  account 
of  the  variations  in  the  value  of  gold  and  silver  the  same 
nominal  price  is  sometimes  of  very  different  values." 

The  following  is  from  John  Stuart  Mill,  in  his  "Prin- 
ciples of  Political  Economy": 

"Money  is  a  commodity  and  its  value  is  determined  like 
that  of  other  commodities,  temporarily  by  demand  and  supply, 
permanently  and  in  the  average  by  cost  of  production.  .  .  . 
The  relations  of  commodities  to  one  another  remain  unaltered 
by  money;  the  only  new  relation  introduced  is  their  rela- 
tion to  money  itself,  how  much  or  how  little  money  they 
will  exchange  for.  .  .  .  The  value  of  a  thing  is  what 
it  will  exchange  for :  the  purchasing  power  of  money.  If 
prices  are  low,  money  will  buy  much  of  other  things,  and 
is  of  high  value.  If  prices  are  high,  it  will  buy  little  of 
other  things,  and  is  of  low  value.  The  value  of  money  is 
inversely  as  general  prices — falling  as  they  rise,  and  rising 
as  they  fall." 

And  President  Hadley,  of  Yale,  in  his  "Economics," 
said: 

"The  value  of  money  is  measured  by  the  quantity  of  other 
things  which  a  unit  of  money  will  purchase.  It  varies  in- 
versely as  the  general  level  of  prices.    If  general  prices  are 

62 


high,  a  given  amount  of  products  or  services  will  cost  a 
great  many  dollars. 

"If  the  price  of  different  commodities  rose  or  fell  simul- 
taneously it  would  be  easy  to  ascertain  the  amount  of  change 
in  the  general  price  level  and  in  the  value  of  money.  But  the 
price  of  each  article  is  subject  to  independent  variations  of 
its  own.  .  .  .  There  is  always  considerable  fluctuation  in 
the  purchasing  power  of  coin.  .  .  The  goods  which  he 
makes  are  valued,  not  as  a  source  of  enjoyment  to  the  pro- 
ducer himself,  but  as  a  means  of  commanding  the  goods  and 
services  of  others  in  the  open  market.  .  .  .  The  piece 
wage  received  by  any  workman  multiplied  by  the  number  of 
pieces  which  he  makes  in  a  day  constitutes  his  day's<  earn- 
ings or  nominal  wage.  The  amount  of  comforts  which  he 
can  buy  with  the  money  received  as  nominal  wages  represents 
his  real  wage." 

It  is  because  the  study  of  comparative  railway  rates  has 
been  more  lately  undertaken  that  the  same  necessity  has 
not  yet  received  general  recognition  in  this  field  of  inves- 
tigation.   There  can  be  no  doubt  that  it  exists. 

The  application  of  the  principles  set  forth  in  the  fore- 
going extracts  to  the  discussion  of  the  supply  of  standard 
money  was  stated,  with  admirable  clearness  and  in  terms 
that  will  serve  to  illuminate  the  present  inquiry,  by  Pro- 
fessor Frank  W.  Taussig,  of  Harvard  University,  in  a 
work  published  prior  to  the  silver  campaign  of  1896.  This 
work  was  written  when  the  view  that  a  continuance  of  the 
decline  in  prices  then  in  progress  was  inevitable  unless 
the  gold  standard  was  abandoned  was  almost  uinversal, 
This  view  took  no  account  of  the  possibility  of  an  almost 
three-fold  augmentation  of  gold  production  such  as  that 
which  has  since  taken  place.  Professor  Taussig  said,  in 
part: 

"So  far  as  this  train  of  reasoning  undertakes  to  explain  the 
mode  in  which  the  fall*  in  prices  has  been  brought  about,  it 
seems  to  me  impregnable.  But  in  so  far  as  it  endeavors  to 
disprove  the  appreciation*  of  gold,  or  to  show  that  the  general 


♦The  reader  will  note  that  the  words  "rise"  and  "deprecia- 
tion" might  be  substituted  for  "fall"  and  "appreciation"  here 
and  elsewhere  in  this  extract  without  altering  its  logic  . 

63 


fall  is  not  due  to  this  appreciation,  I  have  never  been  able  to 
see  its  force.  In  truth,  both  the  bimetallists  and  their  op- 
ponents seem  to  confuse  the  question  when  they  speak  of 
the  appreciation  of  gold  as  causing  lower  prices.  The  ap- 
preciation of  gold  is  the  general  fall  in  prices.  The  two  are 
not  related  as  cause  and  effect;  they  are  simply  two  names 
for  one  and  the  same  thing,  namely,  a  different  rate  of  ex- 
change between  gold  on  the  one  hand  and  commodities  in 
general  on  the  other,  by  which  the  same  amount  of  gold 
buys  more  commodities  than  before.    .    .    . 

"The  only  concrete  way  in  which  civilized  people  can  be- 
come better  off,  is  by  being  able  to  buy  more, — by  their  money 
incomes  going  further  in  the  purchase  of  commodities.  The 
improvement  may  take  the  form  either  of  higher  money  in- 
comes, with  stationary  prices ;  or  that  of  stationary  incomes 
with  lower  prices;  or  the  intermediate  form,  which  in 
fact  seems  to  have  occurred,  of  money  incomes  rising  some- 
what and  prices  at  the  same  time  falling  somewhat.    .    . 

"The  eventual  effect  of  a  silver  standard,  as  we  have  seen, 
must  be  to  cause  a  general  rise  in  prices.  The  rise,  no 
doubt,  would  not  be  immediate,  and  the  change  not  so 
prompt  or  its  effects  so  directly  felt  as  is  generally  predicted. 
But  come  it  would;  and  the  phenomena  of  rising  prices  and 
incomes  would  in  due  time  appear. 

"All  the  indications,  so  far  as  we  can  see,  are  that  the 
advance  in  the  arts  will  not  relax,  that  commodities  will  be 
produced  more  and  more  cheaply  and  abundantly,  that  the 
general  trend  of  prices  in  civilized  countries  will  be  down- 
wards while  money  incomes  will  continue  to  be  stationary  or 
rising.  The  present  monetary  situation,  and  that  for  the 
visible  future,  seem  to  be  on  the  whole  satisfactory."! 

The  unforeseen  circumstances  which  have  prevented 
the  realization  of  Professor  Taussig's  predictions  have 
not  weakened  the  logic  of  his  argument.  The  elements 
which  did  not  enter  into  his  calculation,  the  enormous  in- 
crease in  the  World's  gold  supply  and  the  somewhat  re- 
lated, to  say  the  least,  extensive  expansion  of  credits,  have 
accomplished  about  what  he  anticipated  would  result 
from  the  free  coinage  of  silver  at  the  ratio  of  sixteen  fine 
ounces  of  silver  to  one  of  gold.  The  annual  report  of  the 
Bureau  of  the  Mint  for  the  year  1906  gives  estimates  of 

m  f"The  Silver  Situation  in  the  United  States,"  by  F.  W.  Taus- 
sig, LL.  B.,  Ph.  D.,  Professor  of  Political  Economy  in  Harvard 
University,  3d  Edition,  G.  P.  Putnam's  Sons,  New  York  and 
London,  1896. 

64 


the  World's  yearly  production  of  gold  from  which  the 
following  figures  for  each  quinquennial  period  from 
1862-66  to  1902-06  have  been  obtained : 

Years.  Fine  ounces.  Value. 

1862-1866  38,068,4 14  $621,570,000 

1867-1871  30.67 1 ,358  634,033,000 

1872-1876  24,367,771  503,727,000 

1877-1881 26,668, 106  551,278,700 

1882-1886  24,85  1  ,094  5 1 3,7 17,700 

1887-1891  28,490,926  588,959,700 

1892-1896  42,876,543  886,337, 1 00 

1897-1901  65,076,31 1  1,345,246,700 

1902-1906  84,646,918  1,749,807,309 

DIRECT  APPLICATION  TO  RAILWAY  RATES. 

Economists   of   distinction  have   applied   this   line  of 

reasoning  to  the  present  problem  of  the  readjustment  of 

railway  rates.    The  following  concise  statement  has  been 

made  by  President  A.  T.  Hadley,  of  Yale  University : 

"It  seems  also  clear  that  the  average  increase  in  rates  is 
apparent  only  and  not  real.  If  the  price  of  goods  carried 
and  wages  of  railroad  laborers  and  the  cost  of  materials  of 
railroad  construction  and  operation  have  increased  from  ten 
to  forty  per  cent,  an  increase  of  apparent  charge  of  five  per 
cent  on  the  part  of  the  railroads  is  virtually  a  tremendous 
and  gratifying  decrease."* 

In  the  admirable  essay,  which  received  the  first  prize 

in  the  Hart,  SchafTner  and  Marx  contest  in  the  year 

1906,  Dr.  Albert  N.  Merritt  expressed  the  same  view  in 

greater  detail,  saying,  in  part : 

"At  the  same  time,  coupled  with  the  general  prosperity 
which  has  attended  the  increased  amount  of  business  done 
has  come  a  considerable  rise  in  the  prices  of  nearly  all  com- 
modities, while  there  has  occurred  also  a  considerable  ad- 
vance in  the  rate  of  wages.  For  these  reasons  the  cost  of 
operation  upon  our  railroads  has  been  greatly  increased. 

"Whatever  the  cause,  the  fact  of  this  rise  in  the  price  of 
services  and  commodities  is  incontestable.  In  other  words, 
a  smaller  quantity  of  labor  and  materials  can  be  purchased 
with  a  given  amount  of  gold  coin  to-day  than  could  be  pur- 
chased six  years  ago. 

"But  a  general  advance  in  the  prices  of  commodities,  ac- 


*President  Hadley  in  Boston  Transcript  of  April  i,  1905. 

ft 


cording  to  another  way  of  stating  the  same  fact,  is  only  a 
relative  decline  in  the  value  of  that  standard  in  which  prices 
are  measured.  When  measured  in  the  amount  of  commodi- 
ties and  services  which  it  will  buy,  gold  has  therefore  declined 
about  25  per  cent  in  value  since  the  period  of  1895-1899. 
Would  it  then  be  unreasonable  to  expect  that  gold,  being  less 
valuable  for  the  purchase  of  commodities  and  labor,  should 
also  be  less  valuable  in  the  purchase  of  transportation? 
What  are  the  facts?  If  we  take  similar  periods  for  the 
computation  of  average  railway  rates,  we  find  that  there  has 
been  no  advance  whatever,  the  average  rate  for  the  first 
period,  1895-1899,  being  7.84  mills  per  ton-mile,  while  that 
of  1904  was  only  7.80  mills  per  ton-mile.  Thus  while  aver- 
age prices  have  advanced  25  per  cent  there  has  actually  been 
a  slight  decline  in  average  railway  rates. 

"An  important  distinction  is  here  to  be  indicated  which  is 
not  often  recognized.  There  are  two  sorts  of  rates,  which 
may  be  designated  respectively  as  nominal  and  real.  Nomi- 
nal rates  are  measured  in  money,  while  real  rates  consist  of 
a  percentage  of  the  value  of  the  commodities  transported. 
To  determine  the  real  rate,  that  proportion  of  the  value  of 
the  goods  transported,  which  must  be  given  for  the  service 
of  transportation,  must  be  ascertained. 

"This  distinction  may  at  first  seem  useless,  and  the 
method  of  computing  real  rates  certainly  refuses  to  lend  it- 
self to  exact  statistical  analysis.  Nevertheless,  real  rates, 
such  as  described  are  the  only  proper  measure  of  the  rela- 
tive burden  of  the  transportation  charges  upon  the  industries 
of  our  country.  Obviously  it  is  of  little  concern  to  the  pro- 
ducer just  what  may  be  his  absolute  money  income  and  ex- 
penditure. That  which  is  of  especial  interest  to  him  is  his 
relative  income  and  his  outlay.  It  is,  therefore,  the  propor- 
tion of  the  value  of  his  wheat  which  must  be  paid  for  its 
transportation  that  determines  the  real  burden  of  the  trans- 
portation charge  upon  him.  On  the  other  hand  it  is  the  amount 
of  labor  and  materials  [which  the  money  received  for  trans- 
portation will  buy]  which  is  of  interest  to  the  railroad  i 
determining  whether  or  not  it  can  derive  a  profit  from  the  rates 
charged.  If  now  real  rates  are  accepted  as  the  proper  basis 
for  determining  the  course  of  rates  in  this  country  the  whole 
situation  assumes  an  entirely  different  aspect.  ...  In 
other  words  real  rates  have  declined  25  per  cent  in  less  than 
ten  years."* 

CONSEQUENCES   OF  LOSS   IN    PURCHASING   POWER. 

The  conclusions  from  the  foregoing  are  already  ap- 
parent.   A  rapid  decrease  in  the  purchasing  power  of  the 

♦Albert  N.  Merritt,  Federal  Regulation  of  Railway  Rates, 
Houghton,  Mifflin  and  Company,  Boston  and  New  York,  1907, 
pp.  7-10. 

66 


money  they  receive  has  brought  about,  within  a  single  de- 
cade, a  reduction  in  railway  freight  rates  that  cannot  be 
less  than  twenty-five  per  cent.  This  reduction  began 
almost  imperceptibly  at  a  time  when  American  railway 
rates  were  already  lower  than  ever  before  in  the  history  of 
railways  and  lower  than  anywhere  else  in  the  World.  It 
has  proceeded,  concurrently  with  the  fall  in  the  real 
value  (that  is  in  the  purchasing  power)  of  the  American 
dollar  but  in  such  subtle  form  that  only  when  its  conse- 
quences threaten  the  stability  of  the  American  railway 
system,  the  wages  of  railway  employees  and  the  prosperity 
of  the  great  rail-manufacturing,  car-building  and  other 
allied  industries  is  its  real  significance  and  extent  per- 
ceived even  by  those  most  immediately  interested.  That 
such  a  threat  now  hangs  over  the  railway  industry  of 
America  and  every  employee  and  industry  dependent  upon 
it  is  too  plain  for  argument.  The  situation  is  acute  and 
nothing  but  a  prompt  adjustment  of  the  rates  obtained  for 
the  services  rendered  to  offset,  partially,  at  least,  the  loss 
in  the  value  of  the  money  received  will  prevent  disaster. 
That  such  an  adjustment,  if  effected  now,  will,  at  best,  be 
tardy  and  belated  is  evident  from  the  facts  herein  pre- 
sented, which  show  that  prices  in  every  other  industry 
and  the  wages  of  all  artisans  were  long  ago  adjusted  to 
this  fundamental  condition. 

RAILWAY    CAPITALIZATION    AND    EARNINGS. 

The  truth  is  that  railway  corporations  and  railway  own- 
ers, although  they  bore  some  of  the  severest  losses  of  the 
period  of  financial  depression  that  began  in  1893,  were 
able  to  obtain  but  a  relatively  small  share  in  the  benefits 
of  the  ensuing  period  of  prosperity.    This  is  indicated  by 

67 


the  following  table  which  shows  the  aggregate  par  value 
of  shares  and  bonds  receiving  no  return  in  each  of  the 
years  named,  as  reported  by  the  Interstate  Commerce 
Commission,  and  the  percentage  relations  of  these  aggre- 
gates to  the  total  issues. 


Stock  on  which  no 
were  paid 

dividends 

Bonds  on  which  no  interest 
was  paid. 

Year. 

Par  value. 

Per  centof 
total  issue. 

Par  value. 

Per  cent  of 
total  issue- 

1890     

$2,811,526,552 

63.76 
70.06 
54.34 
37.16 
33.46 

Unknown. 
$890,561,460 
378,937,806 
449.100,396 
287,954,851 

Unknown. 

1895      , 

1900      

1905    , 

1906      

, 3.475,640,203 

3,176,609,698 

2,435,470,337 

, 2,276,801,333 

16.71 
6.78 
6.36 
3.82 

The  capital  issues  thus  left  portionless  do  not  represent 
an  excess  of  capitalization  over  real  value  for  there  is  no 
such  excess.  There  is  no  "water"  in  American  railway 
capitalization  as  it  exists  to-day.  The  methods  of  financ- 
ing railway  enterprises  which  were  necessary  prior  to 
1880  have  passed  away,  railway  paper  is  no 
longer  heavily  discounted  and  for  two  decades  rail- 
way corporations  have  been  busily  engaged  in  recreating 
their  properties.  The  latter  process  has  now  gone  so  far 
that  there  is  no  longer  a  dollar  of  water  in  the  aggregate 
railway  capitalization,  and  the  American  railway  system 
could  not  now  be  reproduced  even  for  a  sum  much  greater 
than  the  total  par  value  of  all  the  bonds  and  stock  by 
which  it  is  represented.*  Since  1880  there  has  been  no  in- 
crease in  the  average  capitalization  per  mile  of  American 
railways,  as  is  shown  by  the  following  table: 


*The  reader  who  wishes  a  more  complete  discussion  of  this 
subject  is  referred  to  the  article  entitled  "Railway  Capitaliza- 
tion," by  Mr.  H.  T.  Newcomb,  which  appeared  in  the  Railway 
World  of  June  7,  1907. 


Capitalization  per  mile  of  line. 

Year. 

Funded  debt. 

Stock. 

Total. 

1880     

$25,400 

$27,700 
22,498 
22,539 
23,413 
20,664 
20,427 

$53,100 

26,975 

49,473 

28,767 

51.306 

1900     

27,680 

51,093 

1905     

30,793 

51,457 

1906     .           

32,014 

52,441 

This  is  a  lower  average  capitalization  per  mile  than  that 
in  any  country  having  railway  facilities  which  even  ap- 
proximate the  high  quality  of  those  traversing  the  United 
States.  The  "Archiv  fur  Eisenbahnwesen"  for  May  and 
June,  1906,  gives  the  following  data  concerning  the  Eu- 
ropean countries  whose  railways  are  comparable  with 
those  of  the  United  States : 


Average 

Length 

capitalization 

Country. 

of  line 

Total 

per  mile 

in  miles. 

capitalization. 

of  line. 

Great  Britain  and  Ireland    22,147 

German  Empire   33,594 

France    27,739 

Austria     12,813 

Belgium     2,520 

Switzerland    2,536 

Italy     9,962 

Spain     2,272 

The   Netherlands    1,653 

Russia    (not  including  Finland)    36,683 

Total    151,918 


$5,792,206,000 

$261,535 

3,334,618.000 

99,262 

3,370.556,000 

121,510 

1,373,498,000 

107,196 

399,602,000 

158,572 

257,516,000 

101,544 

1,077,902,000 

108,201 

214,200,000 

94,278 

136,612,000 

82,645 

2,769,844,000 

75,508 

J  18,726,554,000 

$123,268 

The  aggregate  railway  mileage  of  all  the  countries  of 
Europe,  at  the  dates  represented  in  the  publication  from 
which  the  foregoing  table  was  prepared,  was  1 77,49  x 
miles  with  a  total  capitalization  of  $20,018,418,000,  an 
average  of  $112,786  per  mile,  or  more  than  twice  the  av- 
erage in  this  country.  Thus  the  European  railway  sys- 
tem, which  has  less  than  eighty  miles  for  each  one 
hundred  miles  in  the  United  States,  sustains  $171.51  of 
capitalization  for  every  one  hundred  dollars  sustained  by 
the  railways  of  this  country.    Even  Canada,  with  its  sys- 

69 


tern  of  approximately  20,000  miles  of  railway,  largely 
built  with  the  aid  of  credit  loaned  by  the  Government, 
shows  an  average  capitalization  of  over  $60,000  per  mile, 
or  nearly  twenty  per  cent  higher  than  the  United  States. 

LOW   RETURN    IN   RAILWAY   INDUSTRY. 

Not  only  is  the  capitalization  of  the  American  railway 
system  moderate  but  the  return  upon  investments  in  this 
industry  are  generally  lower  than  in  any  other  great 
American  industry.  The  large  aggregates  of  railway 
bonds  and  shares  which  receive  no  interest  or  dividends 
have  already  been  shown.  A  careful  investigation  by  Mr. 
Logan  G.  McPherson,  lecturer  on  Railway  Transporta- 
tion at  Johns  Hopkins  University,  based  upon  official  sta- 
tistics collected  by  the  United  States  Census  Bureau  and 
Department  of  Agriculture,  has  revealed  the  important 
fact  that  both  the  farming  and  manufacturing  industries 
bring  in  much  more,  per  unit  of  capital  employed,  to  those 
engaged  in  them,  than  does  the  railway  industry.  The 
following  data  showing  the  average  gross  and  net  returns 
in  the  year  1905  upon  each  investment  of  $1,000.00  in 
each  of  the  industries  named  are  from  Mr.  McPherson's 
report  of  the  results  of  his  inquiries.* 

Industry.  Gross.  Net. 

Manufactures     $1,216.00  $151.00 

Agriculture     191.00  98.00 

Railway     150.00  44.00 

The  most  extreme  modification  of  the  tables  possibly 

consequent  upon  the  completest  information  could  not, 

in  all  probability,  alter  the  conspicuous  deduction  from 

*The  full  report  is  to  be  found  in  The  Railway  World  of  No- 
vember 29,  1907. 

70 


this  comparison.  That  is,  the  investor  looking  for  the 
greatest  profit  would  turn  to  manufactures,  then  to  ag- 
riculture and  lastly  to  the  railroad.  The  tremendous  de- 
velopment of  manufactures  and  the  enormous  and  grati- 
fying prosperity  of  the  farming  regions  of  the  West  con- 
firm this  deduction. 

SLIGHT  EFFECT  OF  A  READJUSTMENT  UPON  CONSUMERS. 

If  where  there  has  been  an  unplanned,  unasked  and  in- 
voluntary reduction  to  the  point,  or  beyond  the  point,  of 
unprofitableness  there  must  be  a  wisely  directed,  system- 
atic and  considerate  effort  at  readjustment,  the  railways 
should  be  able  to  rely  upon  the  cordial  acquiescence  of 
an  intelligent  public  sentiment.  There  can  be  no 
real  advance  in  rates  because  only  a  small  fraction  of  the 
loss  through  the  depreciation  of  the  dollar  can  possibly  be 
regained  by  the  railways  but  some  readjustment  and  dis- 
tribution of  this  loss  is  inevitable,  as  has  already  abun- 
dantly been  shown,  if  wages  and  stable  conditions  in  this 
great,  prosperity-making  industry  are  to  be  maintained. 
How  slight  the  effect,  upon  the  consumers  of  the  commod- 
ities affected  by  such  readjustment,  would  be  may  be  indi- 
cated by  considering  the  following  suggested  changes  on 
traffic  between  Chicago  and  New  York. 


Class 
1 
75 

ies  and  rates  in  cent 
2          3          4 
65        50        35 
9          7          5 

s  per  100  lbs. 
5          6 
30        25 

Suggested  additions  

10 

3          2 

85 

74 

57 

40 

33        27 

Should  the  foregoing  be  adopted  the  effect  upon  the 
commodities  named  in  the  following  table,  per  unit  of 

7i 


consumption,   even  when  shipped  in  less  than  carload 
quantities,  would  be  as  indicated  in  the  last  column  below. 


i 


O  O    O    O  O  O   =3 


o  o 
_   dooooooSod 

"?  «     *?  »"T  T  T  TT  T  *7T  *? 


o  o  o  o  S  . 


—  in  iA  is  *  —  «S-»J*ei  co 


■3 

i 


moo       go 


»  «  »  « 
c  c  ■  5 

rt  «  «  -* 

= 

o    =     = 

.    .    .    •  "a  »  -o 

8  ®  ® 

a  n  n  £  a  S  a 

o  e  o  "7  ■  5  5 
■o  -o  T3  —  >-Q  > 

o 

Q 

ONN 

_  o  o 
QQQ 

cm  cn  *s-  o  ©  o  o 

■ 

mrao 

"  cm  ^      rf  ce  to  ■*■*■»  to  i>.  o  o  S  to  us      to  en  m  own  coir  «      5  w  co 


III  I: 


x  x  x  _;  o  _: 


■O  0O3O00recSR«00«  «    «    C5    «    C3 

im         co  ca  h  ca  ca  ca  o  o  oo  es  C3  o     ooo^oca  m  ca  ca  ocao  oq  o 


m  m  c  oo 


o  in  m       lominoooooinioaoin       inwominmoooi 


12  §, 


a  • 


4»4 


72 


The  foregoing  shows  that  an  increase  of  seven  cents 
per  hundred  pounds,  for  example,  on  baking  powder 
shipped  in  less  than  carload  quantities  from  New  York  to 
Chicago,  would  only  amount  to  seven-tenths  of  one  mill 
per  can.  On  most  goods  shipped  in  carload  quantities  the 
effect  of  the  changes  would  be  still  less  considerable. 

VIEWS   OF  AN   AUTHORITY. 

That  those  who,  outside  of  railway  offices,  have  given 
most  consideration  to  the  subject,  realize  the  necessity  of 
at  least  such  a  moderate  readjustment  as  herein  suggested 
is  made  evident  by  the  following  wise  and  patriotic  con- 
clusions expressed  by  Hon.  Martin  A.  Knapp,  the  ex- 
perienced and  able  chairman  of  the  Interstate  Commerce 
Commission,  in  a  recent  address : 

"Without  regard  to  the  personnel  of  railroad  officials,  with- 
out regard  primarily  to  the  interest  of  stockholders,  but  in 
the  interest  of  public  welfare  and  national  prosperity  we  must 
permit  railway  earnings  to  be  adequate  for  railway  improve- 
ment at  advantage  and  profit. 

"The  prosperity  of  the  country  is  measured  and  will  be 
measured  by  the  ability  of  its  railroads  and  waterways  to 
transport  its  increasing  commerce.  With  a  country  of  such 
vast  extent  and  limitless  resources  with  all  the  means  of 
production  developed  to  a  wonderful  state  of  efficiency,  the 
continued  advancement  of  this  great  people  depends  pri- 
marily upon  such  an  increase  of  transportation  facilities  as 
will  provide  prompt  and  safe  movement  everywhere  from 
producer  to  consumer;  and  that  we  shall  not  secure  unless 
the  men  who  are  relied  upon  to  manage  these  great  high- 
ways of  commerce  have  fitting  opportunity,  and  the  capital 
which  is  required  for  their  needful  expansion  is  permitted  to 
realize  fairly  liberal  returns. 


"Now  it  happens,  as  you  all  know,  partly  from  the  nature 
of  the  calling,  which  appeals  to  the  imagination  of  young 
men  for  its  novelty  and  its  opportunity,  and  partly  because 
of  the  strength  of  railway  labor  organizations,  which  for  the 
most  part  have  been  prudently  managed  by  astute  and  able 
leaders,  that  the  general  scale  of  wages  in  railway  service 

73 


has  been  materially  higher  than  in  corresponding  private  pur- 
suits,   .... 

"Therefore  it  is  a  great  satisfaction  to  me  that  at  this 
critical  juncture,  under  the  abnormal  and  distressing  condi- 
tions which  have  lately  prevailed,  arrangements  have  been 
made  by  which  the  wage  scale  in  railway  service  is  not  to 
be  invaded,  at  least  until  the  lapse  of  time  shows  the  neces- 
sity for  resort  to  that  method  of  reducing  expenses ;  and  I 
congratulate  our  railway  friends  and  the  country  at  large 
that  means  have  been  devised  for  carrying  this  great  indus- 
try over  this  critical  period  without  attempting  a  reduction 
in  the  wages  of  railway  employees."* 

On  a  later  occasion,  addressing  the  National  Associa- 
tion of  Railway  Commissioners,  an  organization  com- 
posed of  National  and  State  officers  empowered  by  law  to 
deal  with  problems  of  railway  rates,  Mr.  Knapp  plainly 
indicated  his  conviction  that  such  a  readjustment  of  rates 
is  the  sole  possible  alternative  to  a  general  reduction  in 
the  earnings  of  railway  employees.  In  the  course  of  this 
address,  delivered  on  October  7,  1908,  Mr.  Knapp  said: 

"If  I  might  venture  another  word  merely  to  give  expres- 
sion to  my  personal  convictions.  As  I  said  at  the  outset, 
this  contact  with  certain  phases  of  the  labor  questions  has 
not  only  impressed  me  with  its  fundamental  character,  but 
has,  I  believe,  led  me  to  a  better  appreciation  of  the  point 
of  view  of  the  man  who  works  for  his  daily  living,  and  has 
led  me  further  to  believe  in  the  economic  usefulness,  the  pub- 
lic benefit,  of  a  high  and  advancing  standard  of  compensation 
to  railway  employees.  If  I  might  enlarge  just  for  one 
moment  upon  that  phase  of  the  subject  it  would  be  to  say 
something  of  this  sort:  Every  thoughtful  man  must  be  im- 
pressed with  the  inequalities  of  human  condition.  Equal 
honesty,  equal  intelligence,  equal  energy,  and  equal  effort  pro- 
duce very  unequal  results.  I  sometimes  allow  myself  to 
read  Mr.  Carnegie's  speeches,  and  they  seem  to  imply  that 
if  everybody  had  done  just  as  he  had  done,  everybody  would 
be  just  as  rich  as  he  is.  The  non  sequitur  is  so  obvious  as  to 
require  no  comment.  It  is  not  possible  for  all  to  succeed, 
and,  therefore,  the  thoughtful  man,  the  man  who  really 
desires  to  see  the  better  thing  come  to  pass,  to  feel  that  his 
country  is  growing  and  developing  in  the_  right  direction, 
and  that  institutions,  laws,  and  administrations  are  tending 
to  a  higher  national  life,  is  the  man  who  wants  to  bring 
about  a  more  equable   distribution  of  the  bountiful  wealth 


*Annals   of  the   American   Academy   of   Political  and   Social 
Science,  July,  1908. 


which  the  earth  produces.  How  can  we  accomplish  that 
result  by  any  practical  means  more  efficient  or  just  than  by 
maintaining  a  progressive  increase  in  the  wages  paid  to  men 
who  work,  because  they  are  the  vast  majority,  and  the  better 
they  are  paid  the  more  widely  and  equably  the  wealth  of  the 
nation  will  be  diffused.  Therefore,  I,  for  one,  do  not  hesi- 
tate to  voice  my  desire  to  see  our  railroads  make  earnings 
which  will  permit  them,  plainly  permit  them,  to  pay  liberal 
wages  to  an  adequate  number  of  competent  men,  not  only 
because  I  believe  they  deserve  it,  but  because  of  the  in- 
fluence, the  very  great  influence,  of  the  scale  of  wages  in 
public  service  upon  the  wages  paid  in  every  grade  of  private 
employment,  and  because  that  policy,  I  firmly  believe,  will 
promote  the  prosperity  and  happiness  of  all  the  people  of 
our  country." 

CONCLUSION. 

The  following  facts  have  been  disclosed  by  this  inquiry : 

First,  there  has  been,  since  1897,  a  great  reduction  in 
railway  freight  rates  which  has  gone  so  far  as  to  endan- 
ger the  maintenance  of  the  present  level  of  railway  wages 
and  to  threaten  the  stability  of  the  whole  railway  industry 
and  all  allied  industries. 

Second,  this  decline  has  not  been  effected  to  meet  the 
necessities  or  at  the  request  of  shippers,  but  has  been 
accomplished,  without  the  efforts  of  shippers  or  the  con- 
sent of  the  carriers,  through  the  gradual  depreciation 
of  the  money  in  which  rates  are  paid. 

Third,  a  readjustment  of  charges  which  will  offset  a 
part  of  this  loss  can  be  made  without  serious  inconveni- 
ence to  any  shipper  and  without  materially  augmenting 
the  price  of  any  article  to  any  consumer. 

Fourth,  the  urgent  need  of  a  prompt  readjust- 
ment of  sufficient  extent  to  remove  the  necessity  for  a 
lowering  of  wages  is  fully  realized  by  the  public  authori- 
ties charged  with  the  duty  of  investigating  such  matters. 

On  this  statement  of  facts  the  question  is  presented  to 
the  fair-minded  American  public  with  the  confident  belief 
that  the  action  which  has  become  so  plainly  necessary  will 
receive  their  full  and  ungrudging  support. 

75 


APPENDIX  A. 

A  comparison  of  the  Official  Classification  of  1908  with 
that  of  1898  shows  that  there  are  approximately  3,000 
descriptions  of  various  articles  on  which  the  classification 
or  rating  for  1908  was  the  same  as  for  1898.  The  follow- 
ing list  contains  the  more  important  of  these  articles. 
Many  are  assigned  less  than  carload  ratings  with  a  lower 
rating  for  carload  shipments.  Such  articles  are  listed 
below  either  as  carload  or  less  than  carload,  dependent 
upon  the  prevailing  quantity  in  which  such  shipments  are 
tendered  for  transportation. 

Note. — Items    marked  with  an  asterisk  have  both   less  than 
carload  and  carload  ratings. 


LESS   THAN  CARLOAD. 
FIRST  CLASS  AND   HIGHER. 

♦Almanacs. 

♦Aluminum,  Pigs,  Slabs,  Bars, 
Sheets,  Plates  or  Ingots. 

Aluminum  Bronze. 

Albums,  Photograph. 

Andirons. 

Appliances,  Magnetic. 

Awnings. 
♦Bamboo,  Split. 

Beans,  Tonka. 

Beans,  Vanilla. 

Beds,  Feather. 

Belts,  N.  O.  S.  (Wearing  Ap- 
parel). 

Binding,  Cotton,  N.  O.  S. 

Bismuth. 

Blinds,  Porch  or  Shade,  Bam- 
boo. 

Boots   and   Shoes,   rubber    or 
felt,  wool  or  canvas. 

Boots  and  Shoes,  other  than 
above. 

Boxes,  Cigar,  Wood. 


Boxes,  Druggist,  pill  or  pow- 
der not  nested. 
Boxes,   Jewellers,    Paper,   not 
nested. 
♦Boxes,  Telephone,  wood. 
♦Boxes,  Tin  Plate. 
Bric-a-brac. 
Britannia  Ware. 
Bronze  Ware. 
Brooms,  in  bundles. 
♦Butter,     Fruit,     in     glass     or 
earthenware. 
Buttons. 

Caps,    Percussion,    High    Ex- 
plosive. 
Caps       (Wearing      Apparel) 

Fur. 
Capsules,  Gelatine. 
♦Carbureters. 
Cards,   Photographic. 
♦Cards,  Playing. 
♦Cards,  Show,  Chromo,  Adver- 
tising. 
Carpeting,  N.  O.  S. 
Cartridges^  Stove  or  Fuel. 
♦Cases,  Burial. 


76 


Cases,    Egg,   Wood,  new    or 
old,  S.  U. 
♦Cases,  Filing. 

Casings,  Sausage,  dry. 

Chips,  Potato. 
♦Chowder,  Clam,  in  glass. 

Cameras. 

Cigars,     Boxed,     Corded     or 
Sealed. 

Cloth,  Wire. 

Clothing. 
♦Coffee,  Condensed,  in  glass. 
♦Coffins. 

Collars,  Horse. 

Corks. 

Corsets. 

Cotton,  Spool. 

Dolls. 

Dusters,  Feather. 
♦Dyes,  Aniline. 
*Essence,  Coffee,  in  glass. 
♦Extracts,  coffee,  in  glass. 
♦Extracts,  Malt,  in  glass. 

Fans,  Palm  Leaf  or  Japanese. 
♦Files,  Letter,  N.  O.  S. 

Flowers,   Artificial. 

Furniture  (New). 
♦Bedsteads,    Brass,    K.    D. 
♦Chairs,  Barber  and  Dental, 
S.  U. 

Fuse. 

Fusees,  Railroad. 

Gauges,  Steam. 

Glass,  Decorated. 
♦Glasses,  Looking. 
♦Glass,   Plate,    (Not  over  7V2 
in  width). 

Glass,  Looking. 

Gloves. 

Goods,  Brass. 

Goods,  Celluloid. 

Goods,  Copper. 

Goods,  Dental. 

Goods,  Dry,  Blankets. 

Goods,  Dry,  N.  O.  S. 

Goods,  Gutta-percha. 

Goods,  Knit. 

Goods,  Leather. 

Goods,  Millinery. 

Goods,  Optical. 

Goods,  Rubber. 

♦Hammocks. 

Hampers,  Nested. 

Handles,  Umbrella. 


Harness. 

Hats. 

Hides,  etc.,  (Furs,   peltries  or 

Skins) 
Hosiery. 

Implements,  Fire  Arms. 
Instruments,  Surgical. 
Music,  Sheet. 
Notions. 

Oysters,  Shucked. 
Pencils,  Lead. 
Pens. 

Perfumery. 
♦Phonographs. 
♦Polish,  Furniture,  in  glass  or 

earthenware. 
♦Polish,     Stove,    in    glass    or 
earthenware.  . 
Poultry,   Dressed. 
Quilts,  Bed. 
♦Reels,  Hose,  lawn. 
♦Rugs,    Cocoa,    Grass,    Hemp, 

Jute  or  Pine  Fibre. 
♦Sauce  and  Sauces,  N.  O.  S., 

in  glass. 
♦Screens,    Door    or    Window, 
cloth  or  wire. 
Shades,  Window. 
♦Shrubbery,   in  bundles. 
Suspenders. 
Tea,  N.  O.  S. 
Thread. 

Tobacco,    cut    or    granulated, 
smoking     or     chewing,     in 
drums,  boxes,  kegs  or  bbls. 
Toys,  N.  O.  S. 
♦Trunks,  N.  O.  S. 
Umbrellas. 

Valises,  Satchels,  Travelers' 
Telescope  Cases,  Traveling 
Bags  and  Dress  Suit  Cases. 

LESS    THAN    CARLOAD. 
SECOND  CLASS. 

Albumen. 

♦Bags  or  Sacks,  Mail,  Govern- 
ment. 
♦Blue,  Soluble. 
♦Bluing,  Dry. 
♦Boards,  Lap. 
♦Boilers,   Range,   Copper. 

Boilers,  Wash,  Copper,  nested. 
♦Booths,  Telephone,  Wood. 

Brass,  Sheet,  perforated. 


77 


Butter,  Cocoa  or  Coating,  in 

wood. 
Caviar. 
Chandeliers. 

Chinaware,  in  bbls.  or  casks. 
*Cistern,  Slate. 
Clippers,  Hair  (hand). 
♦Coolers    and    Tuyers,    bronze 

or  copper. 
♦Counters,    Leather. 
*Croquet  Sets. 

Cutlery,  not  plated. 
*Elbows,   Conductor  Pipe,  tin, 

nested. 
♦Extract,  Soap,  Liquid,  in  bot- 
tles. 
*Felt,  oiler,  Hair. 
Furniture  (New). 
*Beds,    Folding,    also    Book- 
cases,      Chiffoniers,        and 
Desks   (K.  D.). 
♦Bedsteads,     Iron    or     Steel 
♦Bedsteads,  Wood. 
*Settees,  Wood,  K.  D. 
Gauges,  Water. 
Griddles,  Asbestos. 
Halters. 
♦Heels,  Leather. 

Ink  Stands  or  Ink  Wells. 
*Leather,  Artificial,  enamel  or 

patent. 
Linoleum,   under  13   feet. 
Pencils,  Slate. 
♦Pipes,  Tobacco,  common  clay. 

Roots,  Ginger. 
♦Roots,  Licorice. 
♦Shot,  in  bags. 
Supplies,  Government. 
Ordnance    Stores. 
Quartermasters'  Stores. 
♦Syrup,  Fruit,  in  cans  or  boxes. 
♦Wringers,   Clothes,   crated  or 
boxed. 

LESS    THAN    CARLOAD. 
THIRD  CLASS. 

*Bags  or  Sacks,  Paper. 
♦Blackboard,    Silicate. 
♦Blackboard,  Slate. 
♦Blackboard,  Wood. 
♦Boards,  Engraving,  wood. 
*Boards,  Stove. 

Buckets,  Chain,   Pump. 

Cheese,  in  boxes  or  casks. 
*Chickory. 


♦Chow-chow,  in  kegs,  bbls.  or 

casks. 
Clams,  fresh,  in  shells,  in  bags 

or  bbls. 
♦Compounds,       Polishing,      in 

cakes,  bars,  or  in  bulk. 
♦Crayons,     School,     Chalk     or 

Talc. 
♦Glassware,       Lights,       Floor, 

Vault  or  Prism. 
♦Griddles,  Soapstone. 
♦Hods,  Brick  or  Mortar,  wood, 

K.  D. 
Horseradish,  in  kegs,  bbls.  or 

casks. 
♦Hose,     Rubber,     Canvas     or 

Leather,  in  boxes  or  bbls. 
♦Mats,  Door,  Wire. 
♦Metal,     Babbitt,    in    pigs    or 

slabs. 
♦Milk,     Condensed,     in     cans, 

kegs  or  bbls. 
♦Olives,  in  kegs,  bbls.  or  casks. 
Oysters,  in  shell. 
♦Packing,  Asbestos. 
♦Pickles,     in     kegs,     bbls.    or 

casks. 
♦Pins,  Clothes. 

♦Rivets,  Brass,  Bronze  or  Cop- 
per. 
♦Rollers,  Curtain  or  Shade. 
Rubber,  Crude. 
^Spools,  Wood. 
♦Stain,  Leather. 

Tobacco,  Plug,  in  caddies. 
♦Toothpicks,  wood. 
♦Vegetables,  etc.,  Garlic,  dried. 
♦Veneering. 

LESS    THAN    CARLOAD. 
FOURTH    CLASS. 

♦Blocks,  Last,  wood. 
Compounds,       Welding,        in 

kegs,  bbls.  or  casks. 
Cotton,  N.  O.  S.,  in  compress- 
ed bales. 
♦Foots,  Oil. 

Rubber,  Scrap. 
♦Stain,   Furniture  or  Wood. 

LESS    THAN    CARLOAD. 
FIFTH   CLASS. 

Rags,  in  bales. 

Waste,    Jute,    in    compressed 
bales. 


78 


CARLOADS. 
FIRST   CLASS. 

*Berries,  Green. 

IRON  AND  STEEL  ARTICLES. 

*Elbows,  Stove  Pipe,  crated. 
♦Pipe,    Stove   and   Stove    Pipe 
and  Damper,  crated. 

CARLOADS. 
SECOND    CLASS. 

*Broom  Corn. 

*Feathers  and  Feather  Clip- 
ping, pressed  in  bales. 

♦Frames,  Door,  S.  U. 

♦Furniture  (New)  N.  O.  S., 
Tables,  K.  D. 

♦Herbs,  Dried,  in  packages. 

♦Hops,  compressed  in  bales. 

♦Poultry,  Alive. 

♦Stones,  Lithographic. 

CARLOADS. 
THIRD  CLASS. 

♦Bananas. 

♦Batteries,  Electric. 

♦Belting,  Canvas,  Rubber  or 
Leather. 

♦Carrousels. 

♦Cement,  Liquid,  in  glass  or 
earthenware. 

♦Chocolate,  (not  choc,  confec- 
tionery). 

♦Cocoa  and  Cocoa  mixtures  or 
substitutes. 

♦Colors  or  coloring— Butter 
and  cheese. 

♦Corkwood. 

♦Disinfectants,  N.  O.  S.,  Liq- 
uid, in  glass. 

♦Disinfectants,  other  than  liq- 
uid, in  glass. 

♦Drugs,  N.  O.  S.,  in  glass. 

♦Extracts,  Beef.  . 

♦Fixtures,  Electrical. 

♦Frames,  Picture. 

♦Freezers,  Ice  Cream. 

♦Furniture,  Mattresses. 
Hides,  etc. 
♦Skins,     Sheep     and     Sheep 
Felts,  dry. 

♦Hods,  Coal,   (Iron  or  Steel). 

♦Instruments,  Electrical. 


♦Lemons. 

♦Matter,   Advertising,   Printed. 
♦Matter,  Printed. 
♦Medicines,  in  glass. 
♦Mucilage,  in  glass  or  earthen- 
ware. 
♦Oranges. 
♦Powder,  Baking. 
♦Rattan. 
♦Reeds. 
♦Tents. 

CARLOADS. 
FOURTH    CLASS. 

♦Agate,  in  the  rough. 

♦Almonds,  not  shelled. 

♦Ammonia,   Anhydrous,  liquid. 

♦Ammunition,  fixed. 

♦Arsenic,  crude. 

♦Bagging,    Burlap    or    Gunny, 
new  or  old. 

♦Barrels,  etc.,  Kegs. 

♦Beans,  Cocoa. 

♦Bearings,  Car,  Journal. 

♦Berries,  Dried. 

♦Biscuits,  N.  O.  S. 

♦Brass,    Sheet,    N.    O.    S.   and 
Plate. 

♦Burlaps    (Not   dyed   for  wall 
covering). 

♦Carbons,  Electric  light. 

♦Cartridges,  Firearm,  paper  or 
metal. 

♦Castings,  Brass. 

♦Cloth,  Brattice. 

♦Compound,  Boiler,  Cleansing, 
dry. 

♦Compound,   Washing,   Liquid, 
in  bbls. 

♦Copper,  plate  or  sheet,  other 
than  perforated. 

♦Cordage,  N.  O.  S. 

♦Covering,  Boiler  or  Pipe,  as- 
bestos, cork  or  felt. 

♦Crackers,  other  than  in  bask- 
ets. 

♦Cranberries. 

♦Cream  of  Tartar. 

♦Currants,      dried,      in      bags, 
boxes,  etc. 

♦Cylinders,  Soda  Water  (tubes 
or  drums). 

♦Dates. 

Engines,  (not  locomotives). 
♦Fire,  Chemicals. 


79 


*Fibre,  Bamboo. 

♦Fibre,     Cocoa,    in    dholls    or 

comp.  bales. 
♦Fibre,  Palm  or  Palmetto. 
*Figs,  in  bags,  boxes  or  casks. 
♦Flax. 

♦Flues,  Brass  or  Copper. 
*Fruit,  dried  or  evaporated,  in 

bags,  boxes,  etc. 
Furniture,  (New). 
♦School. 

♦Desks  and     Seats,     School, 
K.  D. 
♦Gum,     chicle,     copal,     demar, 

pontiac  and  shellac. 
♦Hides,    Beef    or    Horse,    dry, 

pressed  in  bales. 
♦Honey,  in  bbls.  or  casks. 

IRON  AND   STEEL  ARTICLES. 

♦Castings,  Sewing  Machine. 
♦Meters,  Gas,  Castiron. 
♦Safes,  S.  U.,  each  10,000  lbs. 

or  over. 
♦Lanterns,  other  than  paper. 
♦Lead,  Bar,  loose. 
♦Lead,  Coil,  loose. 
♦Lead,  Sheet,  loose. 
♦Leather,  N.  O.  S. 
♦Licorice,  Mass. 
♦Matches. 
♦Mats,    cocoa,    hemp,    jute    or 

pine  fibre. 
♦Nuts,  not  shelled,  in  bbls.  or 

casks. 
♦Oakum. 

♦Oil,  Aniline,  in  cans. 
♦Peanuts. 
♦Pepper. 
♦Pipe,    Lead,    on    reels,    or   in 

coils  or  rolls. 
♦Plates,     Battery,     copper     or 

lead. 
♦Potash,  Bi-chromate  of. 
♦Raisins. 

♦Rod,  Lightning  and  Fixtures. 
♦Rollers,   Rubber    (for  clothes 

wringers),  crated. 
♦Roofing,  Metal. 
♦Rope,   wire,  copper,  on  reels 

or  in  coils. 
♦Rope,  N.  O.  S. 
♦Salts,  Aniline,  in  boxes. 
♦Screws,  brass  or  copper. 
♦Shells,  couch. 


♦Soda,  Bi-chromate  of. 
♦Soles,  Leather. 
♦Tin  Plate,  crystallized,  etc. 
Tinware. 
♦Tobacco,     Leaf,     in    bundles, 

crates  or  bales. 
♦Twine,     in    bales,    boxes    or 

bbls. 
♦Varnish,  in  bulk. 
Vegetables  and  Garden  Roots. 
♦Beans,  Green. 
♦Celery,       Cucumbers       and 

Rhubarb. 
♦Melons     and     Canteloupes, 

loose. 
♦Onions,  Spring,   Green. 
♦Peas,  Green. 
♦Wire,   Brass  or  Copper. 
♦Wrappers,     Bottle,     Excelsior 
or  Straw. 

CARLOADS — FIFTH     CLASS. 

♦Acid,  Acetic,  liquid. 
♦Acid,   Lactic. 
♦Acid,    Sulphuric. 
Agricultural  Implements  and 

Machines. 

♦Axes  or  Hooks,  bush. 

♦Cutters,    Tobacco   Plant   or 
Shears. 

♦Mills,  Fanning. 

♦Planters,  Potato,  hand. 

♦Pruners,  Tree. 

♦Rollers,  Garden  or  Lawn. 

♦Sowers,  Seed,  hand. 

♦Stackers,  Straw. 
Agricultural   Implements  and 

Machines,  Parts. 

♦Aprons      for      Self-Binding 
Reapers. 
♦Blocks,    Tread,    Horse-power, 

wood. 
♦Seats,  iron  or  steel. 
♦Ale,  Ginger. 
♦Ale  and  Beer,  Beer  Tonic  and 

Porter. 
♦Apples,  Chopped. 
♦Apples,  Dried  or  Evaporated. 
♦Apples,   Green. 
♦Ashes,  Pearl  or  Pot. 
♦Balusters. 
♦Barium,  Chloride  of 
♦Bark,  Tan. 
♦Beer,  Root. 


80 


♦Board,  Binders. 

♦Brackets,  Mast  or  Pole, 
wood. 

♦Bran,  Mustard. 

♦Brick,  Bath. 

♦Brick,  Enameled,  Glazed  or 
Salt-Glazed. 

♦Brick,  Stove  or  Stove  Lin- 
ings. 

♦Buckets,  N.  O.  S. 

♦Bungs  or  Plugs,  wood. 

♦Cannon  and  Caissons. 

♦Carriages,  Cannon  or  Gun, 
Stationary,  K.  D. 

♦Catsup. 

♦Ceiling,  Paneling,  Trimmings, 
Wainscoting  and  other  in- 
side House  Finishing, 
wood. 

♦Chalk,  Crude,  in  pkgs. 

♦Cider,  in  wood. 

♦Cocoanut,  dessicated,  N.  O.  S. 
in  boxes,  bbls.  or  pails. 

♦Compressors,  Air. 

♦Cores,  Apple,  green  or  dried. 

♦Cork,  Chips  or  Waste,  in 
comp,  bbls. 

♦Couplers,  Car,  Automatic, 
iron  or  steel. 

♦Covers,  Pail,  wood. 

♦Degras,  in  wood. 

♦Dip,  Sheep. 

♦Disinfectants  other  than  li- 
quid, in  boxes,  kegs,  bbls. 
or  casks. 

♦Doors,  wood. 

♦Doors  and  Door  Frames. 

♦Dryers,  Paint  or  Japan,  in 
wood. 

♦Emery,  Ground,  in  bags  or 
boxes. 

♦Excelsior,  in  bales. 

♦Extracts,  Bark  and  Wood, 
Dry. 

♦Extract,  Witch  Hazel,  in 
wood. 

♦Fencing  Wire,  N.  O.  S. 

♦Ferro-Manganese,  Ferro- 

Phosphorous  and  Ferro- 
Silicon. 

♦Finish,  Wall. 

♦Fish,  Canned. 

♦Fleshings. 

♦Frames,  Blind. 

♦Frames,  Door,  K.  D. 


♦Frames,  Sash. 

♦Frames.    Screen,     Door     and 

Window,  wood. 
♦Gambier. 
♦Glucose,    in     kegs,     bbls  .  or 

casks. 
♦Hair,  compressed  in  bales. 
♦Hemp. 

♦Hides,  Beef  or  Horse,  green. 
♦Hides,  etc.,  Skins,  Sheep  and 

Sheep  Pelts,  green. 
Iron  and  Steetl  Articles. 

♦Angle. 

♦Axes. 

♦Axles,   Car  or  Locomotive. 

♦Band. 

♦Bands,  Hay. 

♦Bands,    Shingle. 

♦Bar. 

♦Bars,   Claw,   Crow,   Spliced 
or  Tampling. 

♦Bars,   Grate. 

♦Bars,  Sheet. 

♦Bars,  Tin  Plate. 

♦Beams,   Brake. 

♦Bearings,  Brake. 

♦Bearings,  Car  Bolster,  Ball 
Bearings. 

♦Belting,  Chain,  in  pkgs. 

♦Boiler. 

♦Boilers,    Range. 

♦Boxes,   Annealing. 

♦Boxes,   Car  Journal. 

♦Braces,  Rail. 

♦Bridge. 

♦Bumpers. 

♦Calks,  Toe. 

♦Castings,    Furnace. 

♦Castings,  Locomotive. 

♦Castings,   Stoves,  crated  or 
boxed. 

♦Chain. 

♦Chairs,  Rail. 

♦Cloth,   Wire. 

♦Couplers,   Car. 

♦Covers,  Journal  Box. 

♦Dies,   Crusher. 

♦Drawbars  or  Drawheads. 

♦Flues,   Boiler,   Welded. 

♦Frogs,   Rail. 

♦Furnaces,  Heating,  K.  D. 

♦Hods,  Brick  or  Mortar,  K. 
D. 

♦Hook. 


Si 


♦Links,  Car  Coupling. 
♦Nails,  in  boxes  or  kegs. 
♦Nuts. 

♦Plate,    Armor,    Black,    Cor- 
rugated, Nail  and  Tack. 
♦Plates,  Boiler. 
*Plates,  Crusher. 
♦Plates,     Stove,     crated     or 

boxed. 
♦Post,  Fence. 
*Radiators,  Steam. 
♦Ranges,   Water    Closets,   in 

crates  or  boxes. 
*Registers,  Air. 
*Retorts,  Gas. 
*Rods,  Brake. 
♦Rods,  Sucker. 
♦Rods,   Wire. 
♦Roofing. 
♦Screws,  N.  O.  S. 
♦Sheet,  U.  S.  Stand.  Gauge, 

No.  20. 
♦Sheet,   Corrugated. 
♦Sheet,  Galvanized. 
♦Shoes,  Brake. 
♦Shoes,  Crusher. 
♦Shoes,    Horse,    Shoe,    Mule 

or  Ox. 
♦Skelp. 
*Spiegel-iron  or  Spiegel-eis- 

en. 
♦Spikes,  Rail. 
♦Staples,  Ingot  Mold. 
♦Tacks. 
♦Ties,  Cotton. 
♦Ware,     Stove,     crated     or 

boxed. 
♦Washers. 

♦Wheels,   Car  and   Locomo- 
tive. 
♦Jute  and  Jute  Lashes. 
♦Kalsomine. 
♦Lathing,    Wire. 
♦Lead,    Black. 
♦Leather,    Scrap. 
♦Lentils. 

♦Lime,  Acetate  of 
♦Lime,  Chloride  of,  in  kegs  or 

bbls. 
Locomotives  and   Locomotive 
Tenders. 
♦Logwood,  chipped  or  ground. 
♦Lumber,    Cigar    Box. 


Machines  and  Machinery. 
♦Blowers,     Blacksmith     and 

Rotary,  K.  D. 
*Looms. 

♦Presses,  Printing,  K.  D. 
♦Magnesium,        Sulphate       of 
Crystals 

(Epsom  Salts) 
♦Manganese. 
♦Manila. 

♦Molasses,   in  hhds. 
♦Moss,   Flax. 
♦Mustard,     in   kegs,    bbls.     or 

casks. 
♦Oil,  Castor,  in  wood. 
♦Oil,  Cocoanut,  in  wood. 
♦Oil,   Linseed,  in  wood. 
♦Oil,  Cottonseed,  in  wood. 
♦Oil,    Palm,   in  wood. 
♦Oil,   Red,   in  wood. 
♦Oil,  Tallow,  in  wood. 
♦Oil,  Tanners,  in  wood. 
♦Ore,  Asbestos. 
♦Ore,  Graphite. 
♦Paper,   Printing. 
♦Paper,  Wrapping. 
♦Paris    Green,    in   boxes,    kegs 

or  bbls. 
♦Plumbago,  in  bbls.  or  casks. 
♦Potash,      Caustic,      in      iron 

drums. 
♦Retorts,   Gas.   Clay. 
♦Roofing,  Asbestos  or  Cement. 
♦Roofing,   Tin. 
♦Sago. 
♦Saltpetre. 

♦Salts,  Rochelle,  in  bbls. 
Sauerkraut. 
♦Seeds,  Alfalfa. 
♦Seeds,  Bird,  in  bags. 
♦Seeds,   Rape. 
♦Seeds,    Clover. 
♦Seeds,   Foenugreek,   in  bags. 
♦Seeds,    Garden. 
♦Seeds,   Grass. 
♦Seeds,  Hemp. 
♦Shells,      Ordnance      (Cannon 

or  Mortar). 
♦Sinks,  Stone  or  Earthenware. 
♦Sisal. 

Sizing. 
♦Skins,  Apple. 
Slate,  School. 
♦Soda,  Acetate  of 


82 


Soda,  Bi-Sulphite  and  Hypo- 
Sulphite  of 
Soda,  Nitrate  of 
♦Springs,  Wire. 
♦Staples,  Wire. 

♦Stock  or  Stuff  Glue    (Hides, 
Pates,  Scrap). 
Stone,  Pumice. 
Stone,  Blocks  or  Slabs. 
Stones,  Grindstone,  K.  D. 
♦Strawboard. 
Substitutes,  or  Mixtures,  Cof- 
fee. 
Syrup,  N.  O.  S. 
Tallow. 
♦Tapioca. 

♦Terne    Plate,    Sheet. 
♦Terra-Cotta. 
Tile,  Floor  and  Facing,  Mar- 
ble and  Slate. 
Tin,  Disks  or  Circles. 
♦Tin,  Pigs,  Bars  or  Slabs. 

Tow. 
♦Turpentine  or  Substitutes,    in 
wood. 
Tuyeres,  Clay. 
Vegetables. 
♦Beans,  Dried. 
♦Peas,  Dried. 

♦Potatoes   and   Sweet   Pota- 
toes. 
♦Vinegar,   in  wood. 
♦Wood,      Dye,       chipped      or 

ground. 
♦Woods  of  Value,  Logs. 
♦Zinc,  Oxide  of 
♦Zincs,  Battery. 

CARLOAD — SIXTH    CLASS. 

♦Agalite. 

♦Alum,  in  bbls.  or  casks. 

♦Alumina,  Sulphate  of,  bbls.  or 

casks. 
♦Arms,  Cross,  (Mast  or  Pole), 

wood. 
♦Ash,  Ammonia,  or  Soda. 
♦Ashes.Brass,  Lead,  Wood  and 

Zinc. 
♦Ashes,  Cotton  Seed. 
♦Ashes,  Garbage. 
♦Barrels,   Ale  or   Beer,   wood, 

new. 
♦Barytes. 


♦Billets,   Spoke. 

♦Bleach  or  Bleaching,  Dry,  in 
casks. 

♦Bolts,  Handle,  Heading, 
Hoop,  Shingle,  Spoke  and 
Stave,  wood. 

♦Bone,  N.  O.  S.,  ground  or  un- 
ground. 

♦Brick,  Cinder. 

♦Brimstone. 

♦Cake,   Nitre. 

♦Cake,  Oil. 

Cement,  Asphalt,  in  bulk. 

♦Charcoal,  ground. 

♦Charcoal,  lump. 

♦Cinder,  N.  O.  S. 

♦Clay,  Fire. 

♦Clinkers,  Carbon,  (from  gas 
retorts). 

♦Coal,  Cannel. 

♦Coke,  Gas  House  and  Petrol- 
eum. 

♦Cracklings. 

♦Crucibles,  Broken,  (not  pul- 
verized). 

♦Dolomite. 

♦Dust,  Zinc,  Flue. 

♦Earth,  Fullers,  in  bags  or 
bbls. 

♦Facings,  Foundry,  in  bbls  or 
casks. 

♦Feed,  Chop  or  Mill. 

♦Feed,  Glucose. 

♦Feldspar. 
Fertilizers,   Tobacco,  in  bulk. 

♦Fertilizers,  N.  O.  S. 

♦Flint,  Ground. 

♦Flour,   in  bbls. 

♦Flues,  Earthen. 

♦Fluor-Spar. 

♦Glass,  Broken  (cullet)  in 
bbls.  or  casks. 

♦Grain,  Barley. 

♦Grain,  Buckwheat. 

♦Grain,   Corn. 

♦Grain,   Oats. 

♦Grain,  Rye. 

♦Grain,  Wheat. 

♦Grains,  Brewers  or  Distillers. 

♦Grits. 

♦Heading. 

♦Hulls,   Oat. 

♦Hulls,   Rice. 

♦Ice. 


83 


Iron  and  Steel  Articles. 

*Bars,  Muck  or  Puddle. 
Billets,  Blooms  and  Ingots. 

*Cinder  or  Scale,  Mill. 

♦Crop  Ends. 

♦Mass  Iron,  Spent. 

♦Moulds,  Ingot. 

*Pig,  Chill. 

♦Pig,  Sand. 

♦Rails,  New  and  Old. 

♦Scale,  Roll. 

♦Scrap. 

♦Slabs,  in  the  Rough. 

♦Ties,  Railroad. 
♦Kainit. 
♦Kaolin. 
♦Lath. 
♦Lead,   Pig. 
♦Lead,    Scrap. 
♦Lumber,    Creosoted. 

Magnesite,    Crude. 
♦Malt. 
♦Marl. 

♦Meal,  Corn,  in  bbls. 
♦Meal,  Cotton  Seed. 
♦Meal,   Glucose. 
♦Meal,  Linseed. 
♦Meal,  Oil. 
♦Middlings. 
♦Ore,   Emery. 
♦Ore,    Beauxite. 
♦Ore,  Chrome. 
♦Ore,   Manganese. 
♦Piles. 

♦Pipe,  Sewer,  Cement  or  Clay. 
♦Pitch,  Solid,  in  cakes. 
♦Plaster,   Stucco. 
♦Plaster,  Wall. 


♦Potash,  Muriate  of 
♦Potash,  Sulphate  of 
♦Pulp,    Mineral. 
♦Pulp,  Wood. 
♦Rice,  N.  O.  S. 

Rock,  Phosphate. 
♦Rosin,  in  bbls. 
♦Salt,  in  boxes  or  sacks. 

Sand,  N.  O.  S. 
♦Seeds,  Cotton,  N.  O.  S. 
♦Seeds,   Flax. 
♦Seeds,   Linseed. 
♦Shells,  Ground,  Oyster,  Clam 

or  Mussel. 
♦Shingles,  Wood. 
♦Shooks. 
♦Shorts.# 

♦Skimmings,  Lead  or  Zinc. 
♦Slate,  Roofing. 
♦Soda,     Caustic,     in    bbls.     or 

casks. 
♦Soda,  Sulphate  of  (Saltcake). 
♦Spelter. 
♦Staves. 

♦Stock  or  Stuff,   Cooperage. 
♦Stone,   Building. 
♦Stone,    Crushed. 
♦Sulphur. 
♦Talc. 

Tankage. 
♦Ties,    Railroad. 
♦Tile,  Building,  Hollow. 
♦Tile,   Drain. 
♦Tile,  Roofing. 

Timber. 
♦Tin,  Scrap. 
♦Tobacco,  Stems. 
♦Whiting. 
♦Zinc,  pig  or  slab. 


84 


APPENDIX  B. 

Statement  showing  prices  of  railway  supplies  purchased 
in  1897  and  1907  as  disclosed  by  the  records  of  various 
Eastern  railways.  It  should  be  noted  that  the  quality  of 
the  supplies,  made  the  basis  of  this  statement,  may  have 
changed  somewhat  between  1897  and  1907  but  in  few  in- 
stances would  the  allowance  for  this  source  of  variation 
materially  affect  the  results. 

Prices. 

Class.  Increase. 
1897. 1807.         Per  cent. 

Locomotives- 
Mogul     $10,181.00  $14,111.00  38.6 

10    Wheel   Passenger    11,026.00  15,734.00  42.7 

Atlantic     not  built.  16,236.00  

Pacific     "  19,580.00  

Prairie     "  16,468.00  

8    Wheel   Passenger    10,243.00  13.581.00  32.5 

6    Wheel    Switcher    9,392.00  12,098.00  28.8 

Cars,    (1899-1907) — 

Hopper     $475.00  $1,185.00  

Box     783.00  1,110.00 

490.00  844.00 

519.00  897.00 

Note: — The  prices  of  cars  shown  above  are  typical  prices  paid  by  different  roads 
In  the  respective  years  and  employed  in  the  same  service.  As  the  cars  purchased 
In  1907  are  of  more  modern  construction,  better  quality  and  larger  capacity  than  those 
purchased  in  1899,  no  accurate  comparison  can  be  made  or  percentage  of  increased 
cost  shown. 

(1902-1907)— 

100,000  lbs.   Capacity  Box  Car  with  Steel  Un- 

derframe  and  wood  superstructure   $1,043.49  $1,148.88  10.09 

100.000  lbs.  Capacity  Composite  Gondola  Car 
with  Steel  TJnderframe  and  wood  super- 
structure           1,021.62  1,148.45  12.42 

100,000  lbs.  Capacity  Composite  Flat  Car  with 

Steel  TJnderframe  and  wood  floor  953.23  1,010.60  6.02 

100.000  lbs.  Capacity,  all-steel  Hopper  Car  ....       1,001.22  1,076.05  7.47 

Angle   Ban    Cwt.           $1.02  $1.55  52.0 

Axles- 
Locomotive     "                2.75  2.95  7.2 

2.72  2.85  4.7 

Tender     "                1.40  2.35  67.8 

Car    "                1.60  1.95  21.9 

1.45  2.20  51.7 

1.68  2.25  34.0 

Bar    Iron    "               1.19  1.78  49.5 

1. 10  1.80  63.6 

1.05  1.50  42.8 


85 


Class.  Increase. 

1897.  1907.         Per  cent. 

Brick- 
Common     M. 

Paving     " 

Castings- 
Brass     lb. 

Steel .. 7.7.7.  Cwt. 

fcl.   Iron    " 


Gray     " 

Coal     Ton 


Run   of   Mine    " 

%  " 

Couplers- 
Freight     Set 

Passenger     " 

Tender     " 

Fencing    M.  Ft. 

Flues   Ft. 

Forgings— 

Axles     lb. 

Crank    Pins     " 

Piston    Bods    " 

Main    Bods    " 

Side    Rods    " 

Lead- 
White     Cwt.  4.95  6.25  26.3 

Lumber — 

Large   Bridge   Timbers    M  Ft. 


$4.50 

$6.00 

33.3 

8.00 

11.00 

37.5 

0.11 

0.25 

127.3 

0.12 

0.253/4 

114.6 

3.50 

6.00 

71.4 

2.50 

4.25 

70.0 

2.70 

3.60 

33.3 

2.35 

2.85 

21.2 

1.15 

2.00 

74.0 

1.20 

1.65 

37.5 

1.46 

1.76 

20.5 

1.32 

1.82 

38.0 

1.17 

1.52 

29.8 

1.83 

2.07 

13.1 

.65 

1.05 

61.5 

.75 

1.15 

53.3 

14.00 

15.00 

7.1 

20.50 

27.00 

31.7 

18.00 

18.50 

2.8 

12.00 

25.00 

108.3 

10.00 

18.15 

81.5 

0.13 

O.I5'/2 

19.2 

0.14 

0.15 

7.1 

0.02 

0.03 

50.0 

0.05 

0.10 

100.0 

0.06 

0.10 

66.6 

0.08 

0.10 

25.0 

0.08 

0.10 

25.0 

Car     Siding     M.  Ft 

Stringers     M.  Ft. 

Car     Flooring     M.  Ft. 

Piles    (Soft)     Ft. 

(Hard)     " 

Heavy     Planks     M.  Ft. 

Cross  Ties    (Hardwood)    Each 


13.12 

25.62 

95.3 

23.00 

38.00 

65.2 

20.00 

33.00 

65.0 

17.00 

28.00 

64.7 

22.50 

38.00 

68.9 

15.00 

27.00 

80.0 

17.00 

35.00 

105.9 

13.00 

33.00 

83.3 

18.00 

28.00 

55.5 

16.00 

34.00 

112.5 

18.00 

26.00 

44.4 

17.00 

28.00 

64.7 

17.00 

24.00 

41.2 

20.00 

33.00 

65.0 

11.00 

25.00 

127.2 

14.00 

19.71 

40.8 

0.08 

0.14 

75.0 

0.08 

0.11 

37.5 

0.12 

0.17 

41.7 

14.00 

22.00 

57.1 

14.00 

30.00 

M4.3 

16.00 

27.00 

63.8 

0.47 

0.80 

70.2 

0.60 

0.85 

41.7 

0.55 

0.75 

36.4 

0.37 

0.70 

E9.2 

0.45 

0.60 

33.3 

0.45 

0.55 

22.2 

0.48 

0.90 

87.5 

0.38 

0.80 

110.5 

0.38 

0.67 

76.4 

86 


Prlcea. 

Class.  Increase. 
1897. 1907.          Ter  cent. 

Cross  Ties— (Continued.) 

Softwood    Each 


Nails     Cwt. 


Wire    " 

Oil- 
Kerosene     Gal. 

Signal     " 


300  degree 
Paint— 


Gal. 
Cwt 


Pipe — 
Cast   Iron    Ton. 


Copper     lb. 

Rails- 
Steel    Gross  Ton 

Rubber   Hose— 

1       inch   Ft. 

H4    Inch    " 

Springs- 
Loco Cwt.  4.05  4.10  1.2 

Switches— 

Comp.    80    

Frogs    80    

Switch   Lamps  Doz. 

Tile      Rod 

Track    Bolts    Cwt. 


0.22 

0.60 

172.7 

0.20 

0.28 

40.0 

0.23 

0.48 

108.7 

0.48 

0.58 

20.8 

1.60 

2.20 

37.5 

1.33 

2.16 

62.4 

1.10 

2.15 

104.5 

1.27 

1.85 

45.7 

1.48 

2.11 

42.6 

0.06 

0.09'/2 

58.3 

0.28 

0.36 

28.6 

0.20 

0.36 

80.0 

0.09 

0.10 

II. 1 

0.77 

1.03 

33.8 

0.50 

0.65 

30.0 

4.75 

6.62 

39.4 

5.50 

6.50 

18.2 

16.00 

34.00 

112.5 

16.75 

29.15 

74.0 

13.50 

21.00 

55.6 

16.00 

32.00 

100.0 

0.31 

.34 

9.7 

0.30 

.33 

10.0 

0.30 

.35 

16.7 

19.00 

28.00 

47.4 

18.00 

28.00 

55.6 

18.05 

26.60 

47.4 

0.34 

0.41 

20.8 

0.40 

0.46 

15.0 

Track   Spikes    Cwt. 


Track  Tools- 
Axes     Do*. 

Drills     Each 

Ratchets     Doz. 

Shovels     " 

Lamp  Bars   Each 

Waste- 
Colored     lb. 

White    " 


31.90 

40.77 

27.8 

18.75 

27.50 

46.7 

45.00 

65.00 

44.4 

0.40 

0.60 

50.0 

1.70 

2.45 

44.1 

1.65 

2.60 

57.6 

2.20 

2.75 

25.0 

1.65 

2.45 

48.5 

1.75 

2.76 

57.7 

1.85 

2.52 

36.2 

1.35 

1.70 

25.9 

1.50 

2.60 

73.3 

1.65 

2.25 

36.4 

1.50 

1.90 

26.7 

1.45 

1.90 

31.0 

1.75 

2.00 

14.3 

8.00 

9.00 

12.5 

0.35 

0.46 

31.4 

5.13 

6.65 

29.6 

5.00 

5.65 

13.0 

0.52 

0.65 

25.0 

0.047 

0.055 

17.0 

0.06 

0.08 

33.3 

87 


Prices. 

Class. 

1897. 

1907. 

Increase. 
Per  cent. 

Wheels- 
Car    

5.60 

6.00 

7.50 

4.78 

4.50 

6.75 

6.50 

6.00 

50.00 

42.50 

42.50 

54.00 

1.70 

1.50 
.13 
.13 

7.80 
8.35 
9.30 
8.46 
9.00 
8.00 
9.00 
9.05 
56.00 
44.50 
50.50 
60.00 

2.50 

2.20 

.26 

.18 

39.29 

33-ln.    Steel    

39.17 
24.0 
76.9 

100.0 
18.5 
38.5 
50.8 
12.0 

M 

4.7 

S6-ln.       "       

m 

18.8 

Wire- 
Barbed    

Cwt. 

II. 1 
47.0 

46.7 

, Lb. 

100.0 

38.5 

88 


APPENDIX  C. 

Statement  showing  the  relative  wages  per  hour  for  dif- 
ferent classes  of  labor,  in  1897  and  1907,  as  reported  by 
the  Bureau  of  Labor  of  the  United  States  Department  of 
Commerce  and  Labor  in  Bulletin  No.  yj,  the  percentage 
increase  in  wages,  and  the  increased  purchasing  power  of 
each  class  of  workmen  in  connection  with  railway  freight 
service  at  the  average  rates  for  1897  and  1907  reported 
by  the  Interstate  Commerce  Commission. 


Industry  and   Occupation. 


Relative  wages  per  hour. 


1897. 


Increased  power 

to  purchase  rail- 

Increase 

way  freight  ser- 

1907. 

per  cent. 

vice,  per  cent. 

125.1 

30.58 

37.29 

155.8 

66.81 

75.38 

141.0 

16.72 

22.72 

120.5 

21.59 

27.84 

128.8 

33.33 

40.18 

121.6 

29.36 

36.01 

130.2 

33.13 

39.97 

132.3 

35.83 

42.81 

128.9 

29.16 

35.80 

121.6 

21.72 

27.98 

129.5 

28.09 

34.67 

125.1 

23.62 

29.97 

112.3 

6.75 

12.24 

114.3 

12.94 

18.75 

126.8 

25.54 

31.99 

127.1 

26.59 

33.10 

132.2 

21.96 

28.23 

129.6 

26.69 

33.20 

135.2 

38.52 

45.-54 

101.0 

Decrease  • 

4.93 

135.6 

38.51 

45.63 

128.2 

15.08 

21.00 

124.9 

23.91 

30.28 

123.0 

36.41 

32.91 

127.6 

25.10 

31.53 

114.8 

18.96 

25.07 

126.4 

27.94 

34.52 

125.9 

33.79 

40.67 

140.9 

41.75 

49.04 

151.9 

51.90 

59.71 

150.0 

45.77 

53.26 

Agricultural   Implements — 

Blacksmiths,    male     95.8 

Fitters,   male    93.4 

Grinders,    male    120.8 

Machine,  woodworkers,  male  99. 1 

Machinists,    male    96.6 

Molders,    iron,    malo    94.0 

Painters,    male    97.8 

Pattern  makers,  wood,  male  97.4 

Bakery,   Bread- 
Bakers,   male    99.8 

Blacksmithing   and    Horseshoeing — 

Blacksmiths,    male    99.9 

Horseshoers,  floormen,  male    1 0 1 . 1 

Horseshoers,    f orgemen,    male    101.2 

Boots  and  Shoes — 

Closers-on,   female    105.2 

Cutters,    outsole,    male    101.2 

Cutters,    upper,    male    101. 0 

Edge  trimmers,  male   1 00.4 

Goodyear  stitchers,   male   1 08.4 

Heel  trimmers,  male 1 02.3 

Lasters,    macliine,    male    97.6 

McKay  stitchers,   male   101.2 

Treers,    male    97.9 

Tampers,    male    1 1 1 .4 

Vampers,    female    100.8 

Brick— 

Brick-machine  tenders,  male   97.3 

Kiln     firemen,     male 102.0 

Kiln  setters,  male   96.5 

Laborers,  male   98.8 

Offbearers,   male    94. 1 

Building   Trades — 

Bricklayers,   male    99.4 

Carpenters,  male  100.0 

Cornice  makers,  male 102.9 


89 


Continued  from  preceding  page. 


Industry  and  Occupation. 


Relative  wages  per  hour. 


1897. 


Increased  power 

to  purchase  rail- 

Increase, 

way  freight  ser- 

1907. 

per  cent. 

vice,  per  cent. 

155.2 

52.76 

60.61 

135.9 

36.31 

43.32 

158.2 

47.03 

54.59 

127.2 

29.14 

35.78 

140.8 

32.58 

39.39 

142.0 

41.29 

48.55 

142.7 

41.15 

48.41 

153.3 

57.07 

65.14 

148.1 

46.34 

53.86 

116.6 

15.56 

21.50 

137.2 

39.15 

46.30 

133.8 

33.27 

40.12 

147.3 

45.12 

52.58 

139.7 

39.28 

46.44' 

129.0 

25.24 

31.68 

190.3 

82.60 

92.20 

110.2 

10.98 

16.68 

139.5 

44.11 

51.52 

120.3 

23.51 

29.86 

108.4 

4.94 

10.33 

112.0 

9.06 

14.67 

116.7 

15.32 

21.25 

122.2 

22.81 

29.12 

137.7 

34.08 

40.97 

107.9 

.65 

5.82 

125.0 

27.03 

33.56 

113.2 

10.55 

16.23 

118.3 

20.10 

26.27 

120.0 

17.42 

23.46 

117.2 

17.08 

23.10 

121.6 

22.33 

28.62 

120.7 

22.04 

28.31 

106.3 

6.94 

12.44 

119.4 

20.12 

26.29 

128.9 

30.60 

37.31 

122.4 

23.51 

29.36 

128.2 

31.89 

38.67 

124.5 

26.78 

33.30 

II  1.9 

13.60 

19.44 

122.9 

28.83 

35.45 

126.0 

26.76 

33.28 

130.6 

35.48 

42.44 

129.6 

34.72 

41.64 

118.0 

17.06 

23.08 

122.7 

26.49 

32.99 

119.9 

20.38 

26.57 

138.1 

35.00 

41.94 

126.2 

31.19 

37.93 

101.2 

2.12 

7.37 

110.4 

6.77 

12.26 

113.8 

10.06 

15.72 

108.7 

10.47 

16.15 

90.2 

Decrease 

Decrease 

120.3 

18.76 

24.86 

123.2 

29.68 

36.35 

112.0 

13.59 

19.43 

134.0 

35.35 

42.31 

134.3 

33.23 

40.08 

123.5 

27.45 

34.00 

Gas    fitters,    male    101.6 

Hod  Carriers,  male   99.7 

Inside  wiremen,  male   107.6 

Laborers,    male    98.5 

Lathers,    wood,    male    1 06.2 

Painters,    male    100.5 

Paper  hangers,  male   1 0 1 . 1 

Plasterers,   male    97.6 

Plumbers,    male    101.2 

Roofers,  gravel  and  tar,  male 100.9 

Roofers,   slate  and  tile,   male    98.6 

Roofers,   tin.   male    100.4 

Steam    fitters,    male    101.5 

Stone  masons,  male  1 00.3 

Stone  setters,   male   103.0 

Structural  iron  workers,  male   1 04. 1 

Candy — 

Candy  makers,  male   99.3 

Dippers,    female    96.8 

Carpets — 

Burlers,   female   97.4 

Dyers,    male    1 03.3 

Loom  fixers,  male  102.7 

Spoolers,    female    101.2 

Twisters,    female     99.5 

Weavers,  Brussels  and  Wilton,  male  .102.7 

Weavers,    Ingrain,    female    1 07.2 

Winders,     female     98.4 

Carriajjes  and  Wattons — 

Blacksmiths,    male    1 02.4 

Body  makers,  carriage,   male   98.5 

Ironers,   male   1 02.2 

Machine,  woodworkers,  male 100. 1 

Painters,  male   99.4 

Trimmers,    carriage,   male    98.9 

Woodworkers,    male    99.4 

Cars,  Steam   Railroads — 

Blacksmiths,  male  £9.4 

Boiler    makers,    male    98.7 

Brass  finishers,  male  99.1 

Cabinet    makers,    male    97.2 

Carpenters,    male    98.2 

Laborers,    male    98.5 

Machine  woodworkers,  male 95.4 

Machinists,  male  99.4 

Molders,    brass,    male    96.4 

Molders,    iron,    male    96.2 

Painters,    male    1 00.8 

Pattern  makers,   wood,   male   97.0 

Pipe  fitters,  male   99.6 

Tinsmiths,  male  102.3 

Upholsterers,    male    96.2 

Clothing,   Factory  Product — 
Buttonhole  makers,  machine,  male  . .  99. 1 
Buttonhole  makers,  machine,  female.  103.4 

Cutters,    hand,    male    103.4 

Cutters,   machine,   male    98.4 

Examiners,   female    1 02.8 

Finishers,    female    101.3 

Pressers,    male    95.0 

Sewing  machine  operators,  male 98.6 

Sewing  machine  operators,  female   ..  99.0 

Cotton    Goods — 

Carding-machine  tenders,  male 100.8 

Dyers,    male    96.9 


go 


Continued  from  preceding  page. 
Industry  and  Occupation. 


Relative  wages  per  hour. 


1897. 


Increased  power 

to  purchase  rail- 

Increase. 

way  freight  ser- 

1907. 

per  cent. 

rlce,  per  cent. 

128.8 

28.93 

35.56 

303.8 

178.21 

192.51 

171.4 

64.65 

73.11 

138.4 

35.29 

42.24 

147.1 

54.35 

62.28 

136.5 

35.42 

42.38 

M7.3 

15.45 

21.33 

II  1.4 

10.41 

16.09 

117.7 

17.00 

23.01 

113.9 

12.33 

18.10 

107.5 

6.23 

11.69 

100.2 

Decrease 

5.03 

127.8 

25.29 

31.73 

108.7 

7.62 

13.15 

109.1 

9.76 

15.40 

121.0 

10.30 

15.97 

112.8 

14.29 

20.16 

122.9 

19.32 

25.45 

113. 1 

14.59 

20.48 

109.4 

10.95 

16.65 

121.5 

19.59 

25.74 

118.0 

19.68 

25.83 

123.0 

23.12 

29.45 

121.3 

18.23 

24.31 

116.2 

18.57 

24.66 

124.2 

22.73 

29.04 

121. 1 

24.21 

30.59 

123.6 

23.72 

30.08 

120.4 

20.76 

26.97 

116.2 

15.85 

21.80 

127.0 

27.00 

33.53 

127.2 

27.84 

34.41 

128.5 

30.99 

37.72 

120.7 

19.50 

25.64 

122.1 

21.61 

27.86 

125.6 

25.73 

32.19 

131.8 

35.04 

41.98 

107.1 

3.48 

8.80 

107.0 

7.43 

12.95 

108.5 

9.15 

14.76 

103.5 

4.93 

10.32 

138.8 

44.58 

52.01 

156.0 

66.31 

74.86 

129.3 

41.78 

49.07 

205.0 

113.76 

124.75 

106.8 

5.01 

10.41 

113.9 

10.80 

16.50 

174.8 

73.58 

82.50 

119.3 

27.73 

34.30 

107.2 

7.85 

13.39 

■  14.1 

15.84 

21.79 

108.9 

10.33 

16.00 

121.2 

22.18 

28.46 

129.9 

31.34 

38.09 

132.1 

35.63 

42.60 

113.4 

13.51 

19.34 

121.4 

19.25 

25.38 

Loom  fixers,  male  99.9 

Spinners,   frame,   male    109.2 

Spinners,   frame,    female    104. 1 

Spinners,   mule,   male   102.3 

Weavers,    male     95.3 

Weavers,    female    100.8 

Dyeing,    Finishing  and    Printing   Textiles — 

Bleachers,  male   101.6 

Calendars,    male    100.9 

Color  mixers,  male 100.6 

Dyers,    male    101.4 

Engravers,    male    101.2 

Printers,    male    100.3 

Electrical  Apparatus  and  Supplies- 
Armature   winders,   male    102.0 

Brass    finishers,    male    101. 0 

Machinists,    male    99.4 

Pattern  makers,  male  1 09.7 

Flour — 

Bolters,  male  98.7 

Laborers,    male    1 03.0 

Millers,   male    98.7 

Millwrights,   male    98.6 

Packers,    male    101.6 

Foundry  and   Machine  Shop — 

Blacksmiths,    male    98.6 

Boiler  makers,   male    99.9 

Boiler   riveters,    male    102.6 

Brass  finishers,  male   98.0 

Core  makers,  male 101.2 

Core    makers,    female    97.5 

Laborers,    male    99.9 

Machinists,    male    99.7 

Molders,  brass,  male  100.3 

Molders,    iron,    male    1 00.0 

Pattern  makers,  wood,  male  99.5 

Furniture — 

Cabinetmakers,    male     98. 1 

Carvers,    hand,    male    1 01.0 

Machine  woodworkers,   male   100.4 

Sawyers,    male*    99.9 

Upholsterers,    male 97.6 

♦Including  all  classes  of  sawyers. 

Gas — 

Laborers,  male  103.5 

Pipe  fitters,  male 99.6 

Glass — 

Batch   makers,   male    99.4 

Blowers,  flint  glass,  male    103.4 

Blowers,    green   glass,    male    96.0 

Blowers,    window   glass,    male    93.8 

Cutters,    window   glass,    male    91.2 

Flatteners,   window  glass,   male    95.9 

Gaffers,   flint  glass,   male    101.7 

Gatherers,   flint  glass,  male    1 02.8 

Gatherers,    window    glass,    male    100.7 

Laborers,    male    93.4 

Leersmen,   male   99.4 

Packers,    male    98.5 

Teasers,    male    93.7 

Harness — 

Collar    makers,    male    99.2 

Cutters,    male    98.9 

Fitters   and   finishers,    male    97.4 

Harness    makers,    male    99.9 

Stitchers,  hand,  male   101.8 


Qi 


Continued  from  preceding  page. 
Industry  and  Occupation. 


Relative  wages  per  hour. 


1897. 


Increased  power 

to  purchase  rail- 

Increase, 

way  freight  ser- 

1907. 

per  cent. 

vice,  per  cent. 

122.3 

22.79 

29.19 

120.2 

25.86 

32.33 

120.5 

18.84 

24.95 

137.6 

29.57 

36.23 

104.7 

15.69 

21.64 

144.2 

43.91 

51.31 

124.0 

26.53 

33.03 

107.5 

16.22 

22.19 

201.4 

100.00 

110.23 

114.5 

14.61 

20.50 

90.4 

Decrease. 

Decrease. 

138.8 

52.03 

59.84 

119.3 

11.81 

17.56 

118.0 

21.03 

27.25 

134.6 

36.93 

43.97 

148.6 

50.10 

57.82 

145.8 

47.57 

55.16 

128.1 

56.60 

64.65 

135.5 

37.28 

44.34 

110.2 

21.10 

27.32 

122.1 

32.57 

39.38 

137.1 

36.01 

43.00 

135.9 

38.82 

45.96 

137.6 

49.57 

57.26 

152.6 

55.03 

63.05 

117.7 

20.59 

26.79 

135.8 

43.10 

50.46 

135.6 

47.87 

55.47 

143.4 

35.28 

42.23 

156.8 

57.59 

65.69 

147.6 

45.99 

53.49 

113.3 

44.88 

52.33 

129.3 

49.65 

57.34 

109.2 

25.52 

31.97 

146.3 

68.94 

77.62 

150.9 

92.72 

102.63 

127.7 

36.72 

43.75 

126.8 

31.67 

38.34 

116.9 

28.18 

34.77 

118.0 

29.81 

36.48 

II  0.0 

15.67 

21.62 

116. 1 

10.15 

15.81 

108.7 

13.11 

18.92 

124.4 

23.05 

29.37 

140.8 

29.29 

35.94 

III. 9 

17.17 

23.19 

120.1 

20.58 

26.78 

114.7 

18.37 

24.45 

97.0 

12.14 

17.90 

75.5 

Decrease. 

Decrease. 

113.9 

16.46 

22.45 

108.4 

8.73 

14.32 

150.1 

50.40 

58.13 

128.7 

27.05 

33.58 

138.7 

38.98 

46.12 

114.2 

13.86 

19.71 

130.8 

28.99 

35.62 

131. 1 

27.78 

34.35 

131.4 

29.08 

35.71 

Stitchers,  machine,  male  99.6 

Hats,    Fur— 

Blockers,    male    95.5 

Colorers,  male   101.4 

Coners,    male    106.2 

Curlers,    male    90.5 

Feeders,    female    100.2 

Finishers,    male    98.0 

Flangers,    male    92.5 

Fur  blowers,  male   1 00.7 

Hardeners     99.9 

Pouncers,    male    105.6 

Slzers,    male    91.3 

Stiffeners.    male    106.7 

Trimmers,    female    97.5 

Weighers,    female    98.3 

Hosiery  and   Knit  Goods- 
Boarders,     male     99.0 

Finishers,     female     98.8 

Knitters,    male    81.8 

Knitters,    female    98.7 

Loopers,    female    91.0 

Menders,    female    92. 1 

Pressers.    male    1 00.8 

Pressers,    female     97.9 

Ribbers.     female     92.0 

Iran  and  Steel   Bar — 

Catchers,    male    98.4 

Heaters,    male    97.6 

Heaters'    helpers,    male    94.9 

Hot  straighteners,  male   91.7 

Rollers,    male    106.0 

Roughers,    male     99.5 

Iron  and  Steel,   Bessemer  Converting — 

Blowers,    male    1 0 1 . 1 

Bottom    makers,    male    78.2 

Ladle   liners,    male    88.4 

Melters,    male    87.0 

Steel  pourers,  male   86.6 

Vessel   men,    male    78.3 

Iron  and  Steel,  Blast  Furnace- 
Cinder  snappers,   male   93.4 

Hot  blast  men,  male    96.3 

Keepers,    male    9 1 .2 

Keepers'    helpers,    male    90.9 

Top   fillers,   male    95.1 

Leather — 

Colorers,    male     105.4 

Fleshers,    male    96. 1 

Glazers,    male    101. 1 

Glazers,    female    1 08.9 

Limers,    male     95.5 

Rollers,    male    99.6 

Setters    out,    male    96.9 

Shavers,    male    86.5 

Stakers,     male     96.0 

Tanyard  hands,  male    97.8 

TJnhairers,    male    99.7 

Liquors,   Malt- 
Bottlers,   male    99.8 

Cellar   men,    male    101.3 

Coopers,    male    99.8 

Drivers,    male    1 00.3 

Fermenters,    male    101.4 

Kettlemen,    male    102.6 

Malt  house   men,   male   101.8 


92 


Continued  from  preceding  page. 


Industry  and  Occupation. 


Relative  wages  per  hour. 


1897. 

Washers,    male    101.4 

Lumber- 
Cant  setters,  gang,  male  95.4 

Carriage  men,   male*    97.8 

Choppers    and    sawyers.    In    woods. 

male    101. 0 

Edger  men.  male   95.5 

•Including  band  setters  and  circular  setters. 

Filers,    male    98.8 

Laborers,    male    94.8 

Sawyers,    band,    male    99.5 

Sawyers,   circular,   male  95.0 

Sawyers,    gang,    male    1 07.0 

Trimmers,    male    88.9 

Marble   and   Stone   Work- 
Bed   rubbers,    male    100.2 

Carvers,    male    103.7 

Laborers,    male    102.1 

Letterers,     male     101.9 

Marble   cutters,   male    101.8 

Marble   polishers,    male    1 02.0 

Sawyers,    male    104.9 

Stonecutters,    granite,    male    97. 1 

Stonecutters,  soft  stone,  male   98.7 

Stone    polishers,    male    1 05.7 

Paper  and    Woed    Pulp — 

Back    tenders,     male     101.8 

Beaters,     male     1 00.4 

Bleachers,    male    100.5 

Calendrers,     male     101.9 

Calendrers,    female    95.9 

Cutters,    male    97.4 

Cutters,   female    99.4 

Enamelere,    male    97.2 

Finishers,    male    97.3 

Finishers,    male    . .  97.3 

Finishers,     female    98.5 

Laborers,    male    99.9 

Machine   tenders,    male    99.5 

Press    tenders,    male    101.6 

Pulp    grinders,    male    1 0 1 . 1 

Rag   sorters,    male 101.9 

Rag   sorters,    female    99.2 

Wood    cookers,    male    96.2 

Wood   preparers,    male    98.8 

Plauinc    Mill- 
Carpenters,     male     101. 1 

Framers,    male    97.6 

Glaziers,    male    1 00.7 

Laborers,    male    96.0 

Machine    woodworkers,    male    10 1.0 

Sawyers,    male*    99.7 

Pottery — 

Dippers,    male     104.9 

Jigger   man,    male    92.2 

Kiln   firemen,   male    114.2 

♦Including  all   classes  of  sawyers. 

Kiln    men,    male    96.2 

Mold   makers,   male    96.0 

Pressera,   male    99.9 

Sagger   makers,   male    96.6 

Setters    out,    male    99.5 

Printiai   and    Binding,    Book   and   Job — 

Bookbinders,    male     1 02.5 

Compositors,    male    1 00.3 

Compositors,    female    1 02.7 


Increased  power 

to  purchase  rail- 

Increase, 

way  freight  ser- 

1907. 

per  cent. 

vice,  per  cent. 

138.6 

36.69 

43.72 

126.6 

32.70 

39.52 

135.5 

38.55 

45.67 

125.7 

24.46 

30.86 

120.5 

26.18 

32.67 

127.1 

28.64 

35.25 

131.6 

38.82 

45.96 

133.0 

33.67 

40.54 

126.9 

33.58 

40.45 

129.8 

21.31 

27.55 

110.2 

23.96 

30.33 

128.0 

27.74 

34.31 

126.4 

21.89 

28.16 

117.3 

14.89 

20.80 

132.7 

30.23 

36.92 

126.4 

24.17 

30.55 

141.0 

38.24 

45.35 

126.9 

20.97 

27.19 

126.5 

30.28 

36.98 

120.8 

22.39 

28.68 

1 16. 1 

9.84 

15.49 

155.9 

53.14 

61.01 

144.1 

43.53 

50.91 

112.9 

12.34 

18.11 

134.4 

31.89 

38.67 

121. 1 

26.28 

32.77 

II  0.1 

13.04 

18.85 

118.9 

19.62 

25.77 

114.7 

48.87 

56.52 

114.8 

17.99 

24.05 

144.8 

17.99 

24.05 

134.9 

36.95 

43.99 

125.2 

25.33 

31.77 

145.8 

46.53 

54.06 

153.6 

51.18 

58.95 

150.8 

49.16 

56.83 

95.1 

Decrease. 

Decrease. 

118.5 

19.46 

25.60 

170.7 

77.44 

86.56 

165.9 

67.91 

76.54 

131.6 

30.17 

36.86 

119.5 

22.44 

28.73 

129.4 

28.50 

35.10 

121.4 

26.46 

32.96 

125.1 

23.86 

30.23 

122.4 

22.77 

29.08 

122.9 

17.16 

23.18 

114.0 

23.64 

30.00 

109.8 

Decrease. 

1.09 

108.3 

12.58 

18.37 

104.5 

8.85 

14.44 

117.0 

17.12 

23.14 

121.0 

25.26 

31.70 

110.3 

10.85 

16.55 

122.2 

19.22 

25.35 

131.0 

30.61 

37.32 

160.0 

55.79 

63.80 

93 


Continued  from  preceding  page. 


Industry  and  Occupation. 


Relative  wages  per  hour. 


1807. 

Electrotypers,    male    99.0 

Press   feeders,    male    99.2 

Press    feeders,    female    99. 6 

Pressmen,    male    1 00.8 

Proof  readers,    male    100. 1 

Proof  readers,  female   88.8 

Sewers    and   stitchers,    book,    female  99.2 

Printing,    Newspaper — 

Compositors,    male    99.6 

Linotype    operators,    male    98.7 

Pressmen,    male    1 0 1 .8 

Stereotypers,    male    1 02.3 

Shipbuilding — 

Blacksmiths,   male    104.0 

Boiler  makers,    male    1 0  i  .8 

Calkers,    iron,    male    1 03. 1 

Calkers,    wood,    male    1 00.3 

Carpenters,    male    1 00.5 

Drillers,    male    107.1 

Fitters,    male    105.5 

Joiners,    male    106.8 

Laborers,    male    1 00.4 

Machinists,     male     103.4 

Molders,    iron,   male    103.3 

Painters,    male    105.6 

Pattern  makers,  male   1 02.7 

Biggers,    male    108.3 

Riveters,    male     1 18. 1 

Silk  Goods— 

Beamers,    male    93.0 

Doublers,    female    95.5 

Dyers,     male     106.6 

Loom    fixers,    male    104.2 

Pickers,    female     93.2 

Quillers,    female    99.2 

Spinners,    male    1 04.4 

Twisters-in,    male     102.3 

Warpers,    male    110.5 

Warpers,    female     1 05.7 

Weavers,    male    97.9 

Weavers,     female     96. 1 

Weavers,   ribbon,   male    88.7 

Weavers,  ribbon,  female  97.7 

Winders,    female     101.4 

Slaughtering  and   meat  packing- 
Back   skinners,    cattle,    male    96. 1 

Dry    salters,    male    93.9 

Gutters,    cattle,    male    97.6 

Gutters,    hog,    male    100. 1 

Headers,    cattle,    male    101.6 

Headers,   hcg,   male    99.4 

Laborers,    male    94.9 

Picklers,    male     96.8 

Rump  skinners,  cattle,  male   95.0 

Scrapers,    hog,    male    1 04.9 

Side  skinners,  cattle,  male   .... 95. 1 

Splitters,    cattle,    male    95.0 

Splitters,    hog,    male    100.9 

Stickers,   cattle,   male    97.4 

Stickers,    hog,    male    101. 1 

Streets  and  Sewers,   Contract  Work — 
Laborers,    male    103.7 

Streets  and  Sewers,    Municipal   Work — 
Laborers,    male    98.7 

Tobacco,   Cigars — 

akers,   hand,  male   118.5 


Increased  power 

to  purchase  rail- 

Increase, 

•   way  freight  ser- 

1907. 

per  cent. 

vice,  per  cent. 

116.1 

17.27 

23.30 

142.2 

43.35 

50.72 

133.7 

34.24 

41.14 

127.2 

26.19 

32.68 

134.6 

34.47 

41.38 

132.2 

48.87 

56.52 

127.1 

28.12 

34.71 

124.1 

24.60 

31.00 

II  1.3 

12.77 

18.57 

125.7 

23.48 

29.83 

119.9 

17.20 

23.22 

112.5 

8.17 

13.73 

108.9 

6.97 

12.47 

156.4 

51.70 

59.50 

122.8 

22.43 

28.72 

120.3 

19.70 

25.85 

138.3 

29.13 

35.77 

113.7 

7.77 

13.31 

118.0 

10.49 

16.17 

123.2 

22.71 

29.02 

117.5 

13.64 

19.48 

131.3 

27.11 

33.64 

112.5 

6.53 

12.01 

127.0 

23.66 

30.02 

107.4 

Decrease. 

4.27 

120.3 

1.86 

7.10 

103  4 

11.18 

16.89 

146.1 

52.98 

60.84 

100.9 

Decrease. 

Decrease. 

110. 1 

5.66 

11.09 

133.2 

42.92 

50.27 

119.0 

19.96 

26.13 

127.2 

21.84 

28.10 

110.7 

8.21 

13.77 

138.5 

25.34 

31.73 

106.9 

1.14 

6.34 

114.7 

17.16 

23.18 

107.5 

11.86 

17.61 

.98.6 

11.16 

16.87 

98.3 

.61 

5.78 

125.5 

23.77 

30.13 

132.4 

37.77 

44.85 

112.8 

20.13 

26.30 

124.2 

27.25 

33.79 

81.5 

Decrease. 

Decrease. 

130.6 

28.54 

35.15 

114.9 

15.59 

21.53 

108.9 

14.75 

20.65 

112.9 

16.63 

22.62 

132.9 

39.89 

47.08 

96.9 

Decrease. 

Decrease. 

120.2 

26.39 

32.89 

122.3 

28.74 

35.36 

II  1.3 

10.31 

15.98 

118.5 

21.66 

27.91 

119.3 

18.00 

24.07 

145.7 

40.50 

47.72 

121.6 

23.20 

29.53 

129.8 

14.36 

20.24 

94 


Continued  from  preceding  page. 


Industry  and  Occupation. 


Relative  wages  per  hour. 


1807. 

Bunch  makers,    hand,    female    107.8 

Bunch  makers,   machine,   female    . .  95.8 

Cigar   makers,    male    96.8 

Cigar  rollers,   hand,  male   98.9 

Cigar   rollers,    hand,    female    98.7 

Cigar   rollers,    machine,    female    . . .  94.8 

Packers,   male    100.9 

Packers,    female     96.4 

Stemmers,    male    109.4 

Stemmers,    female    1 1 2.9 

Woolen   and   Worsted   Goods — 

Burlers.    female    1 00.4 

Carders,    male    101.7 

Card    strippers,    male    100.2 

Combers,    male    95.4 

Combers,    female    102.9 

Dyers,    male     99.4 

Loom    fixers,    male    102.0 

Spinners,   frame,   female    1 02.5 

Spinners,   mule,  male   1 04.2 

Weavers,    male    98.0 

Weavers,   female   100.7 


Increased  power 

to  purchase  rail- 

Increase, 

way  freight  ser- 

1907. 

per  cent. 

vice,  per  cent 

157.1 

45.73 

53.22 

130.3 

36.01 

43.00 

118.7 

22.62 

28.92 

128.8 

30.23 

36.92 

126.8 

28.47 

35.07 

158.4 

67.09 

75.68 

118.7 

17.64 

23.69 

104.8 

8.71 

14.30 

149.1 

36.29 

43.30 

133.0 

17.80 

,  23.85 

136.7 

36.16 

43.16 

128.7 

26.55 

33.05 

125.5 

25.25 

31.63 

96.9 

1.57 

6.79 

106.5 

3.50 

8.82 

122.3 

23.04 

29.36 

128.9 

26.37 

32.87 

139.8 

36.39 

43.40 

143.3 

37.52 

44.59 

142.1 

45.00 

52.45 

137.1 

36.15 

43.15 

95 


APPENDIX  D. 

Statements  showing  average  farm  prices  by  States  as 
reported  by  the  Bureau  of  Statistics  of  the  United  States 
Department  of  Agriculture  for  1897  and  1907,  with  per- 
centage increases  and  percentages  of  increased  command 
over  railway  freight  services  at  the  average  rates  of  1897 
and  1907  reported  by  the  Interstate  Commerce  Commis- 


sion. 


CORN. 
(States  producing  over  $10,000,000  worth  In  1907.) 


Price,  In  cents, 
per  bushel. 


State. 


Value  of 
crop  of  1907. 


Increased  power 
to  purchase 
—  railway  freight 
Increase,        serrice, 
1907.        per  cent.       per  cent. 


New    York    $11,502,000 

Pennsylvania     29,390,000 

Maryland     11,986,000 

Virginia     29,456,000 

West    Virgania    15,322,000 

North  Carolina   33,358,000 

South    Carolina    23,249,000 

Georgia     43,729,000 

Ohio     61,173,000 

Indiana    75,978,000 

Illinois     150,813,000 

Michigan     31,455,000 

Wisconsin      25,678,000 

Minnesota     21,802,000 

Iowa     116,195,000 

Missouri     113,282,000 

South  Dakota   21.700.000 

Nebraska     73.524,000 

Kansas     63.262,000 

Kentucky     49.322.000 

Tennessee 44,667,000 

Alabama     34,422.000 

Mississippi    31,875,000 

Louisiana    19,600,000 

Texas    93,353,000 

Oklahoma     49,837,000 

Arkansas     29,532,000 

All  other   States    26.439,000 

Total     $1,336,901,000 


77.50 
88.24 
80.00 
68.42 
80.00 
72.09 
59.18 
58.33 
108.00 
1 14,29 
109.52 
103.70 
120.00 
108.33 
152.94 
95.83 
119.05 
(41.18 
100.00 
51.43 
58.33 
63.04 
66.67 
55.56 
46.34 
120.00 
70.00 


86.62 
97.92 
89.25 
77.08 
89.25 
80.94 
67.36 
66.47 
118.69 
125.30 
120.29 
114.17 
131.31 
119.04 
165.94 
105.90 
130.31 
153.58 
110.28 
59.21 
66.47 
71.42 
75.24 
63.56 
53.86 
131.31 
78.74 


51.6 


•In  1899.  no  data  for  1897. 


96 


WHEAT. 
(State*  producing  over  15.000,000  worth  In  1907.) 


Price,  In  cents, 
per  bushel. 


State. 


Value  of 

crop  of  1907. 


Increased  power 

to  purchase 
railway  freight 


1897.        1907. 


Increase, 
per  cent. 


per  cent. 


New  York    $7,125,000  90 

Pennsylvania     28,891,000  91 

Maryland    14,172,000  93 

Virginia    8,024,000  92 

North   Carolina    5.692,000  94 

Ohio     28>223,000  88 

Indiana     29,931,000  89 

Illinois     34,890,000  89 

Michigan    11,585,000  87 

Minnesota     62,192,000  77 

Iowa    6,276,000  75 

Missouri    24,538,000  85 

North   Dakota    47,963,000  74 

South   Dakota    28,907,000  69 

Nebraska    36,270,000  69 

Kansas     53,799,000  74 

Kentucky     8,103,000  89 

Tennessee     7,030,000  95 

Oklahoma     7,164,000  76 

Colorado     6,628,000  70 

Idaho     5,788,000  70 

Washington    26,284,000  68 

Oregon     11,907,000  72 

California    20,110,000  83 

All  other  States 32,945,000 

Total    $554,437,000  8oX 


10.00 
5.49 
3.23 
6.52 
13.83 
4.55 
Decrease. 
Decrease. 
4.60 
19.48 
9.33 
Decrease. 
17.57 
28.99 
14.49 
10.81 
3.37 
95  No  change. 
83  9.21 

78  11.43 

67      Decrease. 
75  10.29 

78  8.33 

98  18.67 


15.65 

10.91 

8.54 

12.00 

19.68 

9.92 

3.96 

2.77 

9.98 

25.62 

14.95 

3.90 

23.61 

35.62 

20.37 

16.51 

8.68 

5.14 

14.82 

17.16 

.63 

15.96 

13.90 

24.14 


87.4 


8.17 


13.73 


97 


OATS. 

(States  producing   over  $1,000,000  worth  In  1907.) 


Sfate.  Value  of 
crop  of  1907. 

Maine     $2,560,000 

Vermont    1,671,000 

New  York    21,139,000 

Pennsylfania    1 6,032,000 

Virginia    1,431,000 

North   Carolina    1,797,000 

South   Carolina    2,808,000 

Georgia     3.607,000 

Ohio     16,416,000 

Indiana     15,407,000 

Illinois    41,687,000 

Michigan     14,656,000 

Wisconsin     24,299,000 

Minnesota    25,414,000 

Iowa    41,382,000 

Missouri     5,844,000 

North   Dakota    12.936,000 

South    Dakota    12,764,000 

Nebraska    19.051,000 

Kansas      6-879,000 

Kentucky    1 ,656,000 

Tennessee     1 ,529.000 

Alabama     2,579,000 

Mississippi    1,047.000 

Texas     5,700,000 

Oklahoma     3,009.000 

Arkansas    1 ,843,000 

Montana     5,410,000 

Wyoming    1 ,  177,000 

Colorado     2.945,000 

Idaho     2,397,000 

Washington    4,745,000 

Oregon     4,394.000 

California     3.235,000 

All  other  States   5.122,000 

Total     $334,568,000 


1897. 


Increased  power 

to  purchase 
railway  freight 
Increase,        service, 
1907.        per  cent.       per  cent. 


Price,  in  cents, 
per  bushel. 


87.50 
96.88 
III. II 
100.00 
72.41 
62.16 
60.00 
71.43 
125.00 
121.05 
127.78 
108.70 
147.37 
115.79 
137.50 
115.79 
53.85 
116.67 
146.67 
133.33 
81.48 
78.57 
55.81 
47.73 
122.22 

63.64 
39.39 
51.43 
56.25 
31.25 
28.57 
28.57 
44.90 


97.14 
107.00 
121.96 
110.28 
81.27 
70.50 
68.22 
80.24 
136.57 
132.41 
139.49 
119.43 
160.08 
126.88 
149.71 
126.88 
61.76 
127.81 
159.35 
145.32 
90.81 
87.75 
63.82 
55.32 
133.64 

72.05 
46.55 
.59.21 
64.28 
38.00 
35.18 
35.18 
52.35 


108.96 


119.70 


98 


BARLEY. 

(States  producing  over     $1,000,000  worth  In  1907.) 


State. 


Price,  in  cents. 

Increased  power 

per  hustle 

I. 

to  purchase 

railway  freight 

service. 

Value  of 

Increase, 

crop  of  1907. 

1897. 

1907. 

per  cent. 

per  cent. 

$1,580,000 

42 

80 

90.48 

100.27 

1,002.000 

40 

67 

67.50 

76.11 

13,817,000 

32 

75 

134.38 

146.43 

17,864,000 

24 

67 

179.17 

193.52 

8,507,000 

24 

60 

150.00 

162.85 

9,075,000 

27 

58 

114.81 

125.85 

12,276,000 

22 

61 

177.27 

191.52 

1,206,000 

24 

50 

108.33 

119.04 

2,372,000 

25 

54 

116.00 

127.10 

1,265,000 

42 

58 

38.10 

45.20 

3,876.000 

43 

58 

34.88 

41.81 

1,460,000 

45 

57 

26.67 

33.18 

23,444,000 

54 

78 

44.44 

51.86 

New  York   

Michigan     

Wisconsin    

Minnesota    

Iowa    

North   Dakota    . . . 

South    Dakota    

Nebraska    

Kansas    

Idaho     

Washington     , 

Oregon     

California 

All    other   States    4,546,000 

Total    $102,290,000 


37.7 


66.6 


76.66 


85.74 


RYE. 

(States  producing  more  than  $1,000,000  worth  in  1907.) 


State.  Value  of 

crop  of  1907. 

New   York    $1,716,000 

New    Jersey    1,043,000 

Pennsylvania     4,337,000 

Michigan    3,925,000 

Wisconsin     3,431,000 

Minnesota    1,079,000 

California     1,063,000 

All  other  States    6,474,000 

Total    $23,068,000 


Increased  power 

per  bushel. 

to  purchase 

railway  freight 
service. 

Increase, 

1897. 

1907. 

per  cent. 

per  cent. 

48 

81 

68.75 

77.42 

50 

76 

52.00 

59.81 

43 

75 

74.42 

83.39 

42 

72 

71.43 

80.24 

41 

72 

75.61 

84.64 

3/ 

66 

78.38 

87.55 

65 

85 

30.7/ 

37.49 

44.7 


73. 


63.53 


71.94 


BUCKWHEAT. 

(States  producing  more  than   $500,000  worth  in  1907.) 


Price,  in  cents, 
per  bushel. 


State.  Value  of 

crop  of  1907. 

New   York    $3,981,000 

Pennsylvania     3, 1 92,000 

Michigan    554,000 

All  other  States    2,248,000 

Total     $9,975,000 


1897. 


1907. 


Increased  power 
to  purchase 
—  railway  freight 
Increase,        service, 
per  cent.       per  cent. 


70 


75.00 
64.29 
71.05 


84.00 
72.73 
79.84 


65.80 


74.32 


90 


HAT. 

(Statei  producing  more  than  $1,000,000  worth  in  1907.) 


Price,  per  ton 

Increased  power  to 

purchase  railway 
freight  service. 

State. 

Value  of 

Increase, 

crop  of  1907. 

1897. 

1907. 

per  cent. 

per  cent. 

Maine     

..$26,250,000 

$9.75 

$12.50 

28.21 

34.80 

New  Hampshire  . 

..    13,608,000 

11.50 

15.75 

36.91 

43.95 

Vermont     

..    18,054,000 

9.25 

12.75 

37.84 

44.92 

Massachusetts    . . 

..    14,440,000 

13,90 

19.00 

36-69 

43.72 

Rhode    Island    ... 

..      1,539,000 

14.50 

19.00 

31.03 

37.76 

Connecticut     .... 

..    10,829,000 

13.00 

17.00 

30.77 

37.49 

New    York    

..   91,388,000 

8.25 

15.50 

87.88 

97.54 

New    Jersey    .... 

..    10,778,000 

10.75 

17.00 

58.14 

66.27 

Pennsylvania 

..  71,946,000 

9.15 

15.75 

72.13 

80.98 

Delaware     

..      1,907,000 

10.00 

17.50 

75.00 

34.00 

Maryland     

. .     6,336,000 

10.50 

16.00 

52.38 

60.21 

Virginia   

. .     9,529,000 

10.25 

15.75 

53.66 

61.56 

West  Virginia    ... 

..    13,485,000 

8.25 

15.50 

87.88 

97.54 

North    Carolina    . 

..     3,135,000 

9.75 

16.50 

69.23 

77.93 

South     Caorlina 

..      1,518,000 

11.50 

16.50 

43.48 

50.85 

Georgia    

. .     2,988,000 

13.00 

18.00 

38.46 

45.58 

Ohio    

..  47,588,000 

6.25 

11.75 

88.00 

97.66 

Indiana    

..  37,716,000 

5.90 

12.00 

103.39 

113.84 

Illinois     

..  41,030,000 

6.15 

11.00 

78.86 

88.05 

Michigan    

..  40,575,000 

7.75 

12.50 

61.29 

69.58 

Wisconsin    

..  35,708,000 

6.25 

11.50 

84.00 

93.46 

Minnesota    

..    11,475,000 

4.50 

7.50 

66.67 

75.24 

Iowa     

..  39,200,000 

4.25 

8.00 

88.23 

97.91 

Missouri     

..  37,555,000 

6.15 

9.25 

50.41 

58.14 

North  Dakota    ... 

..      1,547.000 

3.25 

6.50 

100.00 

110.28 

South  Dakota    ... 

. .     3,850,000 

2.95 

5.50 

86.44 

96.02 

Nebraska    

..    14,062,000 

3.00 

6.25 

108.33 

119.04 

Kansas    

..    14,950,000 

3.40 

7.25 

1 13.24 

124.20 

Kentucky     

. .     8,073,000 

10.00 

13.50 

35.00 

41.94 

Tennessee     

. .     7,620,000 

10.75 

15.00 

39.53 

46.70 

Alabama     

..     3,019,000 

10.25 

15.25 

48.78 

56.43 

Mississippi     

..      1,664,000 

9.50 

13.00 

36.84 

43.87 

Texas    

..     5,310,000 

7.25 

10.75 

84.28 

55.90 

Oklahoma    

. .     3,055,000 

6.50 

Arkansas     

. .     2,937.000 

8.65 

11.75 

35.84 

42.82 

Montana    

. .     8,075,000 

7.75 

9.50 

22.58 

28.88 

Wyoming    

. .     3,938,000 

6.00 

7.38 

23.00 

29.32 

Colorado    

..    17,366,000 

5.50 

9.50 

72.73 

81.61 

New  Mexico  .... 

. .     3,854,000 

7.00 

11.75 

67.86 

76.49 

Arizona     

. .     3,654,000 

5.00 

14.00 

180.00 

194.39 

Nevada     

..     3,180,000 

5.00 

10.00 

100.00 

110.28 

Utah   

. .     5,222,000 

4.75 

7.00 

47.37 

54.94 

Idaho    

. .     8,585,000 

5.25 

8.50 

61.90 

76.22 

Washington     

..    11,535,000 

9.00 

15.00 

66.67 

75.24 

Oregon     

. .     8,323,000 

7.75 

10.25 

32.26 

39.06 

California    

..    13,938,000 

9.00 

12.50 

38.89 

46.03 

All  other  States 

..      1,173,000 

.... 

Total 

.$773,507,000 

6.62 

11.68 

76.44 

85.51 

IOO 


POTATOES. 

(State*  producing  more  than  $1,000,000  worth  In  1907.) 


State. 


Value  of 
crop  of  1907. 


Price,  in  cents.  Increased  power 

per  bushel.  to  Purchase 

■ railway  freight 

Increase,        service, 
1897.        1907.        per  cent.       per  cent. 


Maine     9,582,000 

New  Hampshire   ...  1,528,000 

Vermont     1,654.000 

Massachusetts    3,024,000 

Connecticut    2,464,000 

New   York    23,796,000 

New   Jersey    6,216,000 

Pennsylvania    15,389,000 

Maryland     1,710,000 

Virginia    3,046.000 

West  Virginia    2,258,000 

North    Carolina    ...  1,579,000 

Ohio    8,114,000 

Indiana    4,750,000 

Illinois    9,647,000 

Michigan    12,109,000 

Wisconsin     10.237,000 

Minnesota    6,004.000 

Iowa    6,592,000 

Missouri     5,136,000 

North  Dakota 1 ,490,000 

South   Dakota    1,638,000 

Nebraska    4,497,000 

Kansas     4,976,000 

Kentucky     2,220,000 

Tennessee     1,421,000 

Alabama    1,425,000 

Texas    2,529.000 

Oklahoma    1,960,000 

Arkansas    1,592.000 

Montana    1,350,000 

Colorado    4,653,000 

Idaho    1,056.000 

Washington     3,000,000 

Oregon    2,940,000 

California     6,264.000 

All  other  States   ...  6,338,000 

Total     $184,184,000 


89 
90 
70 
90 
90 
67 
78 
66 
68 
70 
65 
64 
62 
62 
62 
43 
38 
31 
47 
63 
33 
32 
46 
55 
67 
73 


56 
67 
53 
84 
77 
57 
74 
67 
60 
68 
80 
78 
68 
65 
72 
45 
45 
41 
55 
72 
62 
50 
70 
88 
75 
76 
100 
105 
100 
91 
50 
66 
52 
50 
56 
90 


Decrease.        Decrease. 


1.52 

Decrease. 

Decrease. 

23.08 

21.88 

9.68 

4.84 

16.13 

4.65 

18.42 

32.26 

17.02 

14.29 

87.88 

56.25 

52.17 

60.00 

11.94 

4.11 

6.38 

10.53 

8.33 
25.00 
17.86 
62.50 
78.57 
40.00 
83.67 


6.74 


2.13 
29.41 
28.14 
15.32 
10.23 
22.10 
10.03 
24.51 
39.06 
23.03 
20.16 
97.54 
64.28 
59.99 
68.22 
17.69 

9.46 
11.85 
16.21 

13.90 
31.42 
23.92 
70.85 
87.75 
47.20 
93.11 


54.7 


18.79 


IOI 


APPENDIX  E. 
Statements  showing  the  values  of  farm  animals  by 
States  as  reported  by  the  Bureau  of  Statistics  of  the 
United  States  Department  of  Agriculture  for  January  i, 
1897  anc*  on  the  same  date  in  1908,  with  percentage  in- 
creases and  percentages  of  increased  power  to  purchase 
railway  freight  service  at  the  average  rates  for  1897  anc* 
1907  reported  by  the  Interstate  Commerce  Commission. 
It  should  be  noted  that  these  data  relate  solely  to  animals 
on  farms  and  to  farm  values. 

HORSES. 

(States  having  more  than  $10,000,000  worth  on  January  1,  1908.) 


Increased  power  to 

Value  on 

Average  Value 

purchase  railway 

State. 

January  1, 

January  1, 

January  1, 

Increase. 

freight  service. 

1908. 

1897. 

1908. 

per  cent. 

per  cent. 

Maine    

$12,296,000 

$46.58 

$106.00 

127.57 

139.27 

New    York    .... 

78.648.000 

49.67 

113.00 

127.50 

139.19 

New    Jersey     . . . 

11,526,000 

58.98 

113.00 

91.59 

101.44 

Pennsylvania     . . 

69,198,000 

44.27 

114.00 

157.51 

170.75 

Maryland    

14,852,000 

38.25 

94.00 

145.75 

158.38 

Virginia     

30,167,000 

36.42 

97.00 

166.34 

180.03 

West   Virginia    . 

19,278,000 

33.28 

102.00 

206.49 

222.24 

North     Carolina. 

20,330,000 

44.76 

107.00 

139.05 

151.34 

Georgia     

15,429,000 

48.34 

111.00 

129.62 

141.42 

Ohio     

105,339,000 

36.67 

111.00 

202.70 

218.26 

Indiana    

85,470,000 

31.81 

105.00 

230.08 

247.05 

Illinois    

170,237,000 

30.91 

107.00 

246.17 

263.96 

Michigan     

73,920,000 

43.14 

105.00 

143.39 

155.90 

Wisconsin     

67,515,000 

40.95 

105.00 

156.41 

169.59 

Minnesota    

70,854,000 

35.95 

98.00 

172.60 

186.61 

Iowa    

140,481,000 

28.94 

99.00 

242.09 

259.67 

Missouri     

84,216,000 

24.79 

88.00 

254.98 

273.23 

North    Dakota    . 

59,752,000 

36.43 

97.00 

166.26 

179.95 

South  Dakota  .. 

48,160,000 

26.50 

86.00 

224.53 

241.21 

Nebraska    

88,305,000 

24.68 

87.00 

252.51 

270.63 

Kansas    

96,396,000 

23.54 

87.00 

269.58 

288.58 

Kentucky     

37,145,000 

32.57 

95.00 

191.68 

206.67 

Tennessee   

30,555,000 

36.41 

97.00 

166.41 

180.10 

Alabama     

14,240,000 

38.82 

89.00 

129.26 

141.04 

Mississippi     .... 

20,020,000 

35.19 

77.00 

118.81 

130.06 

Louisiana     

14.784,000 

27.26 

66.00 

142.11 

154.55 

Texas     

83,070,000 

17.73 

65.00 

266.61 

285.45 

Oklahoma     

54,312,000 

13.41 

73.00 

444.37 

472.35 

Arkansas    

18,972,000 

26.45 

68.00 

157.09 

170.30 

Montana     

21,316,000 

24.38 

73.00 

199.43 

214.82 

Colorado     

18,602,000 

20.06 

71.00 

253.94 

272. 13 

Idaho 

11,250,000 

17.12 

75.00 

338.08 

360.60 

Washington    

30,478,000 

20.47 

98.00 

378.75 

403.36 

Oregon    

27,360,000 

18.18 

96.00 

428.05 

455.19 

California     

37,224,000 

27.40 

94.00 

243.07 

260.70 

All   other   States 

85,833,000 

Total     $1 

,867,530,000 

$31.51 

$93.41 

196.45 

211.69 

102 


MULES. 
(States  having  more  than  $5,000,000  worth  on  January  1,  1908.) 


Value  on 
State.  Jtnuary  1, 
1908. 

Pennsylvania     ....  $5,084,000 

Virginia     6.324,000 

North  Carolina   ..  22,302,000 

South  Carolina   ..  19,734,000 

Georgia     32,480,000 

Indiana     9,768,000 

Illinois     16,159,000 

Missouri     32,421,000 

Nebraska     6,936,000 

Kansas     13,860,000 

Kentucky     21,306,000 

Tennessee    30,672,000 

Alabama     26,442,000 

Mississippi    29,295,000 

Louisiana    18,312,000 

Texas    57.967,000 

Oklahoma    16,128,000 

Arkansas    19,855,000 

California    9,266,000 

All  other  States  .  22,628,000 

Total     $416,939,000 


Increased  power  to 
Average  Value.  purchase  railway 

January  1,  January  1.    Increase,    freight  service. 
1897.  1908.  percent.  percent. 


$58.81 

$124.00 

110.85 

121.69 

48.58 

124.00 

155.25 

168.37 

49.98 

126.00 

152.10 

165.06 

61.68 

143.00 

131.84 

143.76 

62.93 

140.00 

122.47 

133.90 

36.08 

111.00 

207.65 

223.46 

35.69 

113.00 

216.62 

232.89 

29.91 

101.00 

237.68 

255.04 

32.33 

102.00 

215.50 

231.72 

31.04 

99.00 

218.94 

235.33 

33.97 

106.00 

212.04 

228.08 

39.17 

108.00 

175.72 

189.89 

49.01 

113.00 

130.57 

142.42 

48.81 

105.00 

115.12 

126.18 

52.83 

109.00 

106-32 

116.92 

29.83 

91.00 

205.06 

220.74 

21.69 

96.00 

342.60 

365.35 

34.26 

95.00 

177.29 

191.54 

36-89 

1 13.00 

206.32 

222.06 

$41.66        $107.76 


158.67 


171.96 


lOI 


CATTLE. — Including  Milch  Cows. 
(States  haviDg  more  than  $10,000,000  worth  on  January  1,  1908.) 


Increased  power  to 

Value  on 

Average  Value.                 purchase  railway 

State. 

January  1, 

January  1,  January  1.      Increase,     freight  sen-ice. 

1908. 

1897.           1908.           per  cent.           per  cent. 

Vermont     

$11,824,000 

$22.72 

$23.09 

1.63 

6.85 

New  York   

75,351,000 

23.24 

27.95 

20.27 

26.45 

Pennsylvania     . . 

58,842,000 

24.30 

27.79 

14.36 

20.24 

Virginia     

18,723,000 

16.44 

22.05 

34.12 

41.01 

West   Virginia    . 

20,229,060 

18.50 

25.41 

37.35 

44.41 

North  Carolina.. 

12,456,000 

11.38 

16.74 

47.10 

54.66 

Georgia     

15,180,000 

11.65 

15.36 

31.85 

38.63 

Ohio    

55,458.000 

23.91 

28.04 

17.27 

23.30 

Indiana     

44,796,000 

22.29 

25.51 

14.45 

20.33 

Illinois    

89,048,000 

25.65 

26.60 

3.70 

9.03 

Michigan    

44,914,000 

23.23 

24.25 

4.39 

9.76 

Wisconsin    

57.237,000 

20.74 

22.63 

9.11 

14.72 

Minnesota    

44,468.000 

19.64 

19.18 

Decrease. 

2.68 

Iowa     

128,929,000 

26.10 

23.72 

Decrease. 

Decrease. 

Missouri    

74,482,000 

21.41 

22.47 

4.95 

10.34 

North  Dakota  .. 

16,432,000 

19.36 

18.97 

Decrease. 

3.83 

South  Dakota  .. 

42,663,000 

21.26 

20.87 

Decrease. 

3.22 

Nebraska    

87,526,000 

21.28 

21.12 

Decrease. 

4.35 

Kansas     

92.478,000 

22.44 

21.51 

Decrease. 

.79 

Kentucky    

23,797,000 

18.50 

21.40 

15.68 

21.63 

Tennessee     

14,753,000 

12.83 

15.93 

24.16 

30.54 

Alabama     

10,255,000 

8.50 

12.48 

46.82 

54.37 

Mississippi     .... 

11,312,000 

9.93 

12.31 

23.97 

30.34 

Texas     

121,772,000 

11.81 

13.69 

15.92 

21.88 

Oklahoma     

37,812,000 

18.20 

17.57 

Decrease. 

..50 

Arkansas    

12,664,000 

9.77 

11.74 

20.16 

26.34 

Montana     

20,064,000 

17.89 

21.16 

18.28 

24.36 

Wyoming    

20,986,000 

17.26 

24.37 

41.19 

48.44 

Colorado     

34.408,000 

20.02 

21.53 

7.54 

13.07 

New   Mexico    ... 

16,913,000 

12.02 

17.54 

45.92 

53.42 

Arizona     

11,240,000 

12.33 

17.96 

45.66 

53.15 

Washington     . . . 

13,810,000 

17.24 

24.10 

39.79 

46.98 

Oregon     

18.416,000 

14.67 

29.10 

37.01 

44.05 

California     

36,705,000 

19.39 

23.45 

20.94 

27.16 

All  other  States. 

100,052,000 

Total     $1,495,995,000 


$18.88 


$20.99 


16.89 


i«4 


SHEEP. 
(States  baring  more  than  $1,000,000  worth  on  January  1.  1908.) 


Increased  power  to 

Value  on 

Average  Value.                 purchase  railway 

January  1, 

January  1.  January  1,    Increase,     freight  service. 

State. 

1908. 

1897.          1908.          per  cent.           per  cent. 

Maine     $1,092,000 

New  York  5,440,000 

Pennsylvania    ....  5,09 1 ,000 

Virginia     2,048.000 

West    Virginia    ..  2,970,000 

Ohio     13,933,000 

Indiana    6,148,000 

Illinois    3,973,000 

Michigan    9.500.000 

Wisconsin     4.333,000 

Minnesota    1,740,000 

Iowa    3.568,000 

Missouri     4,434,000 

North  Dakota    ...  2,232,000 

South  Dakota    ...  2,980,000 

Nebraska     1,621,000 

Kentucky     4,520,000 

Tennessee    1 ,  180,000 

Texas    4,929,000 

Montana     21,544,000 

Wyoming    24,423,000 

Colorado     5,644,000 

New  Mexico   16,515,000 

Arizona    3,732,000 

Utah    11,512,000 

Nevada     6,011,000 

Idaho    12.691,000 

Washington     3,074,000 

Oregon     9,526,000 

California    8,404,000 


$2.05 

$4.09 

99.51 

109.76 

2.68 

4.81 

79.48 

88.71 

2.77 

4.62 

66.79 

75.36 

2.14 

4.00 

86.92 

96.53 

2.18 

4.40 

101.83 

112.20 

2.48 

4.48 

80.65 

89.94 

2.71 

5.06 

86.72 

96.32 

2.86 

5.01 

75.17 

84.17 

2.64 

4.46 

68.94 

77.62 

2.37 

4.15 

75.11 

84.11 

2.19 

3.79 

73.06 

81.96 

3.02 

4.97 

64.57 

73.03 

1.90 

4.36 

129.47 

141.26 

1.95 

3.56 

82.56 

91.94 

2.17 

3.63 

67.28 

75.88 

2.47 

3.76 

52.23 

60.05 

1.90 

4.22 

122.11 

133.53 

1.44 

3.39 

135.42 

147.52 

1.20 

2.74 

128.33 

140.07 

1.61 

3.90 

142.24 

154.69 

1.80 

4.15 

130.56 

142.41 

1.76 

3.33 

89.20 

98.92 

1.06 

3.45 

225.47 

242.20 

1.57 

3.62 

130.57 

142.42 

1.52 

3.88 

155.26 

168.38 

1.69 

3.79 

124.26 

135.79 

1.71 

3.65 

107.60 

118.27 

1.86 

3.73 

100.54 

110.85 

1.33 

3.58 

169.17 

183.01 

1.86 

3.47 

86.56 

96.15 

All  other  States..       6,928,000 

Total     $211,736,000 

1.82 

3.88 

113.19 

124.15 

ios 


SWINE. 
(States  having  over  $1,000,000  worth  on  January  1,   1908.) 


State. 


Value  on 

January  1, 

1908. 


Average  Value. 

January  1,  January  1, 

1897.  1908. 


Increased  power  to 
purchase  railway 
Increase,     freight  service, 
per  cent.  per  cent. 


New    York    $5,954,000  $6.61  $8.90  34.64  41.56 

New  Jersey   1,550,000  8.02  10.00  24.69  31.10 

Pennsylvania     ....  7,722,000  6.67  7.80  16.94  22.95 

Maryland     1,861,000  6.74  6.35     Decrease.          Decrease. 

Virginia    4.588,000  3.38  5.75  70.12  78.86 

West    Virginia     ..  2,179,000  4.25  5.75  35.29  42.24 

North  Carolina    ..  7,599,000  3.11  5.60  80.06  89.32 

South  Carolina   ..  3.865,000  3.49  5.70  63.32  71.71 

Georgia     8,794,000  3.17  5.50  73.50  82.42 

Florida     1,496,000  2.02  3.75  85.64  95.18 

Ohio     16,634,000  4.93  6-50  31.85  38.63 

Indiana     19,586,000  5.05  6.20  22.77  29.08 

Illinois     30,835,000  5.18  6.60  27.41  33.96 

Michigan    9.161,000  5.92  6.60  11.49  17.22 

Wisconsin 13,370.000  5.38  7.00  30.11  36.80 

Minnesota    8,996,000  4.91  7.10  44.60  52.03 

Iowa     54,684,000  5.67  6.50  14.64  20.53 

Missouri     18,504,000  3.99  5.15  29.07  35.70 

North   Dakota    ...  1,748,000  4.50  7.50  66.67  75.24 

South   Dakota    ...  6,321,000  4.39  7.00  59.45  67.65 

Nebraska     26,519,000  4.77  6.25  31.03  37.76 

Kansas     15,712,000  4.61  5.90  27.98  34.56 

Kentucky     5,860,000  3.34  4.60  37.72  44.80 

Tennessee    6.984,000  3.33  4.65  39.64  46.82 

Alabama     5,755,000  2.53  4.60  81.82  91.17 

Mississippi     5,922,000  2.40  4.50  87.50  97.14 

Louisiana     3,010,000  2.83  4.50  59.01  67.18 

Texas    16,522,000  2.48  5.25  111.69  122.57 

Oklahoma    8.464,000  4.08  5.33  30.64  37.35 

Arkansas    4,283,000  2.32  3.80  63.79  72.21 

Wyoming    1,200,000  4.52  8.00  76.99  86.09 

Washington     1,410,000  3.32  7.75  133.43  145.43 

Oregon     1,744,000  2.37  6.25  163.71  177.26 

California     3,967,000  4.13  7.20  74.33  83.29 

All  other  States  .  6,231,000  ....  ....              

Total     $339,030,000  $4.10  $6.05  47.56  55.14 


106 


APPENDIX  F. 

Statements  showing  comparisons  of  classifications  for 
1888  and  1908  and  1888  and  1898  compiled  in  the  same 
manner  as  those  for  1898  and  1908  which  appear  in  the 
text  at  pages  44  to  46.  The  data  shown  in  the  tables  ap- 
pearing in  this  appendix  are  summarized  in  the  text  in 
tables  appearing  at  page  48. 


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